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8 million for failing to waive mutual fund sales charges for certain charities and retirement accounts.
rd] after five years including sales charge and 2[sup.
UIT sponsors generally offer sales charge discounts to investors, known as 'breakpoint discounts' and 'rollover and exchange discounts.
Investments between $250,000 and $499,999 will now have a sales charge of 2.
First American Funds has also reduced upfront sales charges from 1.
The low-load sales charge option has become increasingly popular as it offers a shorter sales charge redemption schedule (typically three-four years) versus a fund purchased with a standard six year sales charge option.
Not only will this generate one-time sales charge savings, it will create future savings for additional Huntington Funds investment as aggregate holdings grow.
Under an NAV transfer program, customers who redeemed fund shares for which they paid a sales charge were permitted to use those proceeds within prescribed time periods to purchase Class A shares of a new mutual fund at NAV - that is, without paying another sales charge.
During the relevant period, UIT sponsors generally offered sales charge discounts to investors, known as "breakpoint discounts" and "rollover discounts.
Securities firms must learn all of the relevant pricing features of the fund shares they sell and ensure that eligible investors receive all available discounts and sales charge waivers, without exception.
Sales charges, annual operating expenses and detailed breakpoint sales charge discount schedules.
Class A shares typically charge a front-end sales charge and also may be subject to an asset-based sales charge, but it generally is lower than the asset-based sales charge imposed by Class B or Class C shares.