MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, March 31, 2004 Fund Firm Adds Class A Shares Rydex Investments of Rockville, Maryland began offering broker-dealer clients class-A mutual fund shares for 15 of its 45 funds. Rydex officials said the move was in response to client requests. Walter Kenyon, national accounts director of Rydex Investments, hopes that the A shares will give broker-dealers "more flexibility in how they can provide advice and services to their clients." Previously, Rydex offered all of their funds on a fee-for-service basis, either with C-share pricing or in a wrap platform, according to a company spokesperson. The spokesperson added that they had received "a steady stream of requests from broker-dealers and advisors" interested in other pricing schemes. Rydex wanted to offer an up-front compensation option, and since B-shares, with their high 12b-1 fees are "not regulatory friendly" in the current environment, they decided to issue A-shares. A-shares will be available for their more traditional buy-and-hold offerings, which include 13 benchmark funds a core equity fund and a sector rotation fund. Printed from: MFWire.com/story.asp?s=6939 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |