Purchases of Class A shares at net asset value where a front end sales charge
is not imposed are subject to a contingent deferred sales charge
The offer will also be extended to a limited number of Class C share investors who, during the same time frame, made purchases totaling at least $500,000 where customers paid an initial sales charge
, or at least $1 million in the absence of a sales charge
and who, in view of all relevant circumstances, would have been better off had they purchased A shares instead.
Performance quoted without sales charges
would be reduced if the sales charges
ADP's new Rights of Accumulation functionality provides an automated mechanism for aggregating customer assets, both held at the firm and elsewhere, to ensure that the proper sales charge
As a result, eligible investors purchased Class A shares and paid front-end sales charges
that they should not have paid, or purchased Class B shares, which subjected them to contingent deferred sales charges
and higher fees.
Those figures exclude the effect of a one-time sales charge
paid by a Class A shareholder at time of purchase, but they include the effect of ongoing expenses charged to Class A shares.
In addition, the funds' original up-front sales charge
has been eliminated in favor of a contingent deferred (back-end) sales charge
that is designed to encourage longer-term investing.
Lipper Rankings are based on annualized total returns and do not reflect sales charges
compared to other comparable UITs with sales charges
of up to 2.
Withdrawal of tax-deferred accumulations may be subject to deferred sales charges
and are subject to ordinary income tax.
Yield calculations do not include any commissions or sales charges
, and are compounded for six months and annualized for a twelve month period to derive the Trust's yield consistent with the SEC standardized yield formula for open-end investment companies.
This tutorial introduces the different types of investment companies, the funds they manage, and sales charges
related to their transactions.