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 |
|
Monday, May 2, 2005 Domini Makes Bet on Brokers Brokers now have another socially responsible fund to sell. Domini Social Investments launched a load product that clones its flagship Domini Social Equity Fund on Monday. The firm will be one of the few to offer essentially the same fund both with and without a commission. The Domini Social Equity Portfolio Class A will charge a tiered front-end load that starts at 4.75 percent. No-load shares of the Domini Social Equity Fund will remain available for fee-based advisors and investors who buy shares directly from Domini. "By introducing load shares, we hope to reach out to a whole new realm of investors who prefer to make their investment decisions with professional assistance," said Amy Domini, founder and CEO of Domini Social Investments. The firm hired Kenneth R. Nostro as director of Broker-Dealer Distribution to oversee the marketing of the newly created A shares. Nostro had been a vice president at Credit Suisse Asset Management. "Until now there has been no Domini product that meets the needs of commission-based brokers," said Nostro. "Our new Class A shares can easily be as popular among commission-based brokers as the Domini Social Equity Fund is among fee-based advisors and do-it-yourselfers." Printed from: MFWire.com/story.asp?s=9610 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |