Funds Target RIAs
Significant changes are being made to the product
and pricing structure of the American Performance Funds to meet the
needs of fee-based advisors and their clients.
American Performance Funds last month eliminated the
sales charge on Class A Shares, and renamed the share class No-Load
Investor Shares. These will carry a standard 0.25% 12b-1 fee; for other
classes, an overall policy of maintaining low expense ratios will be
adopted.
American Performance Funds also introduced a new
Institutional Share Class with a lower overall expense ratio and a
$100,000 investment minimum.
American Performance Funds plans to introduce a U.S.
Tax-Efficient Mid Cap Equity Fund to complement its large- and
small-cap offerings, which are being renamed: The American Performance
Equity Fund will be renamed the American Performance U.S. Tax-Efficient
Large Cap Equity Fund, while the American Performance Small Cap Equity
Fund is being renamed the American Performance U.S. Tax-Efficient Small
Cap Equity Fund.
BOk Investment Advisers, Inc., a subsidiary of Bank
of Oklahoma, manages the American Performance Funds. "We are making
these changes to strengthen our position and achieve greater
distribution in the RIA marketplace," says Doug Scott, a BOk senior
vice president and product manager.
For more information, call Jim Striegel at (918) 588-6858 or visit www.apfunds.com.
Fund Supports Assisted Living Facility
The CRA Qualified Investment Fund mutual fund
purchased a $6.57 million Federal Housing Administration project loan
supporting an assisted-living facility housing more than 100
Chicago-area senior citizens with disabilities.
The CRA Qualified Investment Fund is a
high-credit-quality, fixed-income mutual fund seeking competitive
financial performance while supporting community and economic
development in neighborhoods across the country. For more information,
visit www.crafund.com, or call CRAFund Advisors at (877) 272-1977.
T. Rowe Price Adds Funds
T. Rowe Price has added two funds, Dividend Growth
Fund and New America Growth Fund, to its Advisor Class lineup, bringing
the total number of funds that offer Advisor Class shares to 26.
Advisor Class shares carry a 12b-1 fee of 0.25%, and
can only be purchased through financial intermediaries. For more
information about any T. Rowe Price mutual fund, call (877) 804-2315.
Charitable Planning Sales Kit Launched
John Hancock has launched a new charitable planning
virtual sales tool kit. It includes new sales, marketing and
educational materials to demonstrate how clients can use life insurance
to provide a lasting benefit for their favorite charity, while enjoying
tax advantages for themselves and their families.
Financial advisors who want more information should contact their local John Hancock office or call 888-266-7498, Option #3.
Treasury Bond Index Funds Launched
Fidelity Investments has launched three low-cost
Treasury bond index funds, expanding the number of index funds it
offers from nine to 12.
Each fund–Spartan Short-Term Treasury Bond Index
Fund, Spartan Intermediate Treasury Bond Index Fund and Spartan
Long-Term Treasury Bond Index Fund–will offer the low-cost Fidelity
Advantage Class shares and standard Investor Class shares. Customers
may invest in Fidelity Advantage Class shares for a $100,000 minimum
investment.
Advisor Joins Windsor II Fund
The Vanguard Group has added Armstrong Shaw
Associates Inc. to the five current advisors managing Vanguard's $41.4
billion Windsor II Fund.
To minimize any tax impact to shareholders, Vanguard
will direct a modest portion of the fund‚s current cash position to
Armstrong Shaw. In addition, a portion of the new cash flow received by
the fund will be directed to the new advisor.
ADVISOR EMPORIUM
February 1, 2006
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