A bank just offered a new take on pricing for its family load-based mutual funds. On Tuesday Huntington Bank
revealed that its new "universal breakpoint schedule" will count investors' preexisting Huntington Funds and non-Huntington Funds load-based assets combined for the purposes of fee breakpoints. Discounts begin at $50,000 purchases and max out (by reducing the load to zero) at $1 million.
"We can diversify you into our Huntington Funds and you as a shareholder don't get hit," explained Paula Jurcenko
, senior vice president of product management and sales at Huntington Asset Advisors. "We think it's pretty unique."
Jurcenko noted that the move works particularly well with Huntington's commodities, small cap and international equity funds, given their appeal for those looking to diversify. Huntington currently offers a total of 24 mutual funds, including asset allocation funds, equity ones, fixed income ones and money market ones.
The change took effect on May 1.
Company Press Release
COLUMBUS, Ohio – Huntington Bank today announced that Huntington Funds investors
can now combine any mutual funds that have a sales charge (also known as load-bearing
mutual funds) toward discounts on Huntington Funds acquisitions, exclusively through The
Huntington Investment Company. This first-of-its-kind “Universal Breakpoint Schedule” will
help cut the cost of investing in load-bearing mutual funds.
The Universal Breakpoint Schedule will enable investors to qualify for greater discounts on
sales charges for Huntington Funds acquisitions, regardless of where the non-Huntington
Funds investments are being held. This is done by counting the total market value of all non-
Huntington, plus Huntington-based, funds when calculating fee discounts. The discounts
increase as the total value of the funds being invested increase.
“Huntington Funds customers can now enjoy the benefits of a diversified portfolio without
sacrificing breakpoint discounts,” said Daniel B. Benhase, Huntington senior executive vice
president and director of the Private Financial Group. “This is the first mutual fund
investment solution that combines all investor load-bearing mutual fund holdings to count
towards achieving the best possible breakpoint advantage for new Huntington Funds
Huntington Funds breakpoint discounts begin at purchases of $50,000-$99,000 and count
down to zero sales charge for investments of $1 million and more. The aggregate market
value of an investor’s non-Huntington load mutual funds is added to the amount of the
planned Huntington Funds Class A shares purchase, to determine the Universal Breakpoint
Schedule sales charge.
“We believe that our customers will receive an immediate financial benefit as well as a long-
term advantage from this new approach to load fund investing,” said Benhase. “Not only will
this generate one-time sales charge savings, it will create future savings for additional
Huntington Funds investment as aggregate holdings grow. In our opinion, this is a smart
solution that helps our customers grow their mutual fund portfolios, and helps us grow our
Any mutual fund that was subject to a sales load qualifies for the Huntington Funds Class A
Shares Universal Breakpoint Schedule, including:
Holdings in multiple mutual funds.
Investments by a spouse and children under 21.
Purchases through multiple intermediaries.
Purchases through IRAs.
“This streamlined investment solution combines the simplicity of one competitive breakpoint
schedule with unlimited diversification to accomplish the unique goals of the individual
investor,” Benhase said. “We look forward to helping our customers maximize their
investments through this new system.”
# # #
You should carefully consider the investment objectives, potential risks, management fees,
and charges and expenses of the Fund before investing. The Fund's prospectus contains
this and other information about the Fund, and should be read carefully before investing.
You may obtain a current copy of the Fund's prospectus by calling 1-800-253-0412. Past
performance is no guarantee of future results. The investment return and principal value of
an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may
be worth more or less than their original cost.
The funds are distributed by Unified Financial Securities. Inc.(Member FINRA) a wholly
owned subsidiary of Huntington Bancshares, Inc. and an affiliate of Huntington Asset
Advisors, Inc. the advisor to the Huntington Funds.
Diversification does not assure profit nor protect against loss in a declining market.
Huntington Bancshares Incorporated is a $52 billion regional bank holding company headquartered in
Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of
financial services including checking, loans, savings, insurance and investment services to customers
for 144 years. Huntington has more than 600 banking offices. Huntington also offers retail and
commercial financial services online at huntington.com; through its telephone bank; and through its
network of over 1,300 ATMs.
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