Mutual Fund Share Class


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Mutual Fund Share Class

In mutual funds, a type of share with a particular load. The load, which is the sales fee for buying into the mutual fund, is charged at different times depending on the stock class. For example, a class A stock has a load that is paid up front, while a class B stock has a load that is paid when one sells the shares in the mutual fund.
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These "clean" share classes, Szapiro said, "have a different structure" than typical mutual fund share classes, and the innovation "won't stop there.
Also inside this issue, Steve Saxon (http://www.plansponsor.com/MagazineArticle.aspx?id=6442476536) looks at the new, expanded definition of fiduciary, Fred Reish (http://www.plansponsor.com/MagazineArticle.aspx?id=6442476537) looks at the duty to understand mutual fund share classes and costs, and Mike Barry (http://www.plansponsor.com/MagazineArticle.aspx?id=6442476535) talks about the next "bubble" -- public pension funding.
While the Financial Industry Regulatory Authority continues to zero in on abuses involving mutual fund share classes and senior financial fraud, restitutions ordered by the self-regulatory organization are way up while fines levied and the number of disciplinary cases pursued in the first half of 2017 are way down, according to a just-released analysis by Eversheds Sutherland.
The EPI analysis is based on methodologies and assumptions from a 2015 report released by President Barack Obama's Council of Economic Advisers, which underpinned the original fiduciary rule developed by his Labor Department, and an April 2017 report from Morningstar focused on how new mutual fund share classes could reduce conflicted financial advice.
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