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Friday, April 19, 2002|
Bay City Firm Targets Traders
San Francisco-based Fremont Investment Advisors has added a two percent short-term redemption fee to its Fremont International Growth Fund. The charge will be levied on shares redeemed less than 30 days after purchase.
The fee is intended to discourage short-term trading in the Fund by a few market-timers, explained Bill Fergusson, vice president of marketing for the firm. He added that the fee will be returned to the fund for the benefit of shareholders.
The fund has $33 million in assets and is one of 13 no-load offerings from the family. The fund firm originated as a private manager for Bechtel, but has changed directions under new management in the past year.
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