NASD is leading an industry task force to explore and recommend ways that the mutual fund and broker-dealer industries can prevent breakpoint problems and eliminate errors in sales load
calculations in the future.
Performance data does not reflect the deduction of the maximum sales load
Some also levy sales loads
on reinvested dividends, deferred sales charges and/or exchange fees.
The Fund's common and preferred offerings, inclusive of the underwriters' over-allotment, have raised approximately $487 million, before sales loads
and offering expenses.
This result follows the company's announcement last month of its initiative to reduce the impact of end-of-quarter sales loads
Heinz Company (NYSE: HNZ) today stated that it expects its first-quarter earnings (to be released in early September) will be up on last year's first quarter but slightly below current analysts' estimates because of the implementation of the company's policy to reduce the impact of quarterly sales loads
035 billion, assuming full exercise of the underwriters' over-allotment, less sales loads
and offering expenses (see note below).
All fund classes are sold without front or back-end sales loads
Rankings do not take into account the effect of sales loads
, but do reflect the inclusion of certain fee waivers and expense reimbursements by the advisor.
Bogle suggests that fully three out of every five funds include a sales load
According to Golato, the combination of the DCA and a decreased sales load
enhancement made last year makes this a unique value on the market.