Mutual fund fees and expenses

COVINGTON FUND II INC. ANNOUNCES COMPLETION OF DEALER INITIATED REDEMPTION

Retrieved on: 
Wednesday, October 19, 2022

TORONTO, Oct. 19, 2022 /CNW/ - Covington Fund II Inc. (the "Fund") announced today that it has completed the Dealer Initiated Redemption that it announced was pending in our press release dated August 31, 2022.

Key Points: 
  • TORONTO, Oct. 19, 2022 /CNW/ - Covington Fund II Inc. (the "Fund") announced today that it has completed the Dealer Initiated Redemption that it announced was pending in our press release dated August 31, 2022.
  • This is being done further to a Special Resolution passed by shareholders earlier this year to amend the articles of the Fund and allow for the redemption by the Fund of the Class A shares outstanding.
  • At the close of business Friday October 14th, the Fund's back office provider CI Investments Inc., initiated steps to complete the Redemption by the Fund of all outstanding Class A shares.
  • Covington Group of Funds has managed several Labour Sponsored Investment Funds to individual investors throughout Ontario including Covington Fund I, Covington Fund II, Covington Strategic Capital Fund, New Generation Biotech (Equity) Fund Inc., and Covington Venture Fund Inc.

Delta Data Audit Identifies One of Largest Mutual Fund Expenses Still Manually Processed

Retrieved on: 
Wednesday, March 30, 2022

Delta Data is the leading FinTech software and data management company for the mutual fund industry.

Key Points: 
  • Delta Data is the leading FinTech software and data management company for the mutual fund industry.
  • The audit reviewed publicly available information on the top 100 U.S. mutual funds, with distribution fees ranging up to nearly $5 billion.
  • The top expenses for mutual funds are payroll, property, and intermediary fees.
  • Using a combination of TA, transparency, and supplemental data, external calculations can be performed to ensure you are billed correctly.

Morningstar Publishes Global Study of Fees and Expenses in the Fund Industry, Finds Fees Continue to Fall, Yet Room for Improvement in Industry Structure Remains

Retrieved on: 
Wednesday, March 30, 2022

CHICAGO, March 30, 2022 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today published the first chapter, "Fees and Expenses," of its biannual Global Investor Experience (GIE) report. The report, now in its seventh edition, assesses the experiences of mutual fund investors in 26 markets across North America, Europe, Asia, and Africa. The "Fees and Expenses" chapter evaluates an investor's ongoing cost to own mutual funds compared to investors across the globe. 

Key Points: 
  • The "Fees and Expenses" chapter evaluates an investor's ongoing cost to own mutual funds compared to investors across the globe.
  • Morningstar gave Top grades to Australia, the Netherlands, and the United States, denoting these as the most investor-friendly markets in terms of fees and expenses.
  • Conversely, Morningstar again assigned Bottom grades to Italy and Taiwan indicating these fund markets have amongst the highest fees and expenses.
  • "The increased prevalence of unbundled fund fees enables transparency and empowers investor success.

Morningstar Publishes Global Study of Fees and Expenses in the Fund Industry, Finds Fees Continue to Fall, Yet Room for Improvement in Industry Structure Remains

Retrieved on: 
Wednesday, March 30, 2022

CHICAGO, March 30, 2022 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today published the first chapter, "Fees and Expenses," of its biannual Global Investor Experience (GIE) report. The report, now in its seventh edition, assesses the experiences of mutual fund investors in 26 markets across North America, Europe, Asia, and Africa. The "Fees and Expenses" chapter evaluates an investor's ongoing cost to own mutual funds compared to investors across the globe. 

Key Points: 
  • The "Fees and Expenses" chapter evaluates an investor's ongoing cost to own mutual funds compared to investors across the globe.
  • Morningstar gave Top grades to Australia, the Netherlands, and the United States, denoting these as the most investor-friendly markets in terms of fees and expenses.
  • Conversely, Morningstar again assigned Bottom grades to Italy and Taiwan indicating these fund markets have amongst the highest fees and expenses.
  • Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC.

Victory Capital Receives High Honors in Barron’s Best Fund Families of 2021

Retrieved on: 
Tuesday, February 22, 2022

Victory Capital Holdings, Inc. (NASDAQ: VCTR) (Victory Capital or the Company) today announced that its Victory Funds ranked 8th and its USAA Mutual Funds ranked 14th in Barrons Best Fund Families for the one-year period ended December 31, 2021.

Key Points: 
  • Victory Capital Holdings, Inc. (NASDAQ: VCTR) (Victory Capital or the Company) today announced that its Victory Funds ranked 8th and its USAA Mutual Funds ranked 14th in Barrons Best Fund Families for the one-year period ended December 31, 2021.
  • We are honored to be recognized by Barrons for the results delivered across our fund families, said David Brown, Chairman and Chief Executive Officer of Victory Capital.
  • Victory Capital means Victory Capital Management Inc., the investment adviser of the Victory Capital mutual funds, USAA Mutual Funds and VictoryShares ETFs.
  • Victory Capital mutual funds and USAA Mutual Funds are distributed by Victory Capital Services, Inc. (VCS), an affiliate of Victory Capital.

MFS Releases Closed-End Fund Income Distribution Sources for Certain Funds

Retrieved on: 
Monday, July 26, 2021

Investors should not draw any conclusions about the funds investment performance from the amount of the funds distributions or from the terms of the funds managed distribution plan.

Key Points: 
  • Investors should not draw any conclusions about the funds investment performance from the amount of the funds distributions or from the terms of the funds managed distribution plan.
  • The Board of the fund may amend the terms of the plan or terminate the plan at any time without prior notice to the fund's shareholders.
  • A return of capital does not necessarily reflect a funds investment performance and should not be confused with yield or income.
  • Common shares of the Funds are only available for purchase/sale on the NYSE at the current market price (NYSE American for MFS California Municipal Fund).

Gateway Equity Call Premium Fund Adds Expense Cut to Solid Track Record

Retrieved on: 
Wednesday, July 14, 2021

As of the most recent prospectus, the investment advisor has contractually agreed to waive fees and/or reimburse expenses (with certain exceptions) once the expense cap of the fund has been exceeded.

Key Points: 
  • As of the most recent prospectus, the investment advisor has contractually agreed to waive fees and/or reimburse expenses (with certain exceptions) once the expense cap of the fund has been exceeded.
  • When an expense cap has not been exceeded, the gross and net expense ratios and/or yields may be the same.
  • 3 Morningstar rankings for the Gateway Equity Call Premium Fund in the Options Trading category is as of June 30, 2021.
  • Based in Cincinnati, Ohio, Gateway Investment Advisers, LLC (Gateway) specializes in low volatility equity strategies for risk-conscious investors.

Angel Oak Capital Advisors’ Flagship Multi-Strategy Income Fund Celebrates 10-Year Anniversary

Retrieved on: 
Tuesday, July 6, 2021

The net expense ratios are reported as of the 1/31/21 Annual Report and are referenced in the 5/31/21 prospectus.

Key Points: 
  • The net expense ratios are reported as of the 1/31/21 Annual Report and are referenced in the 5/31/21 prospectus.
  • Investors should carefully consider the investment objectives, risks, charges and expenses of the Angel Oak Mutual Funds.
  • Changes in interest rates generally will cause the value of fixed-income instruments held by the Fund to vary inversely to such changes.
  • For more information on these risks and other risks of the Fund, please see the Prospectus.

MFS Releases Closed-End Fund Income Distribution Sources for Certain Funds

Retrieved on: 
Monday, June 28, 2021

Investors should not draw any conclusions about the funds investment performance from the amount of the funds distributions or from the terms of the funds managed distribution plan.

Key Points: 
  • Investors should not draw any conclusions about the funds investment performance from the amount of the funds distributions or from the terms of the funds managed distribution plan.
  • The Board of the fund may amend the terms of the plan or terminate the plan at any time without prior notice to the fund's shareholders.
  • A return of capital does not necessarily reflect a funds investment performance and should not be confused with yield or income.
  • Common shares of the Funds are only available for purchase/sale on the NYSE at the current market price (NYSE American for MFS California Municipal Fund).

Top 10 Split Trust Declares Quarterly Fund Distributions

Retrieved on: 
Tuesday, June 1, 2021

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at [email protected] or visit www.strathbridge.com .

Key Points: 
  • For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at [email protected] or visit www.strathbridge.com .
  • Commissions, trailing commissions, management fees and expenses all may be associated with investment funds.
  • Please read the prospectus before investing.
  • Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.