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Rondure New World and Overseas Funds in registration
hoping they will be NTF at Fido. Plan to scuttle Artisan Global Equity and Artisan Global Small cap already perished. sounds like worthy replacements, especially since I have no inclination to buy Artisan's emerging market funds. These funds might fit the bill.
Wondering what people think about Ms. Geritz launching two funds to kick things off. Why not focus on building a strong track record for one fund first?
It is good to see they are going to allow investors to purchase the institutional or investor fund shares for the same investment amount:
Excerpt:
"PURCHASE AND SALE OF FUND SHARES
The Fund offers two classes of shares, Investor Class and Institutional Class shares. The minimum initial investment for both share classes is $2,000 for each account, or $1,000 if an Automatic Investment Program is established; except that the minimum to open an UGMA/UTMA or a Coverdell Education Savings Account is $100. There is no subsequent minimum investment amount for either share class. The Fund reserves the right to change the amount of these minimums from time to time or to waive them in whole or in part if, in the Adviser’s or the Fund’s opinion, the investor has adequate intent and availability of assets to reach a future level of investment in the Fund that is equal to or greater than the minimum."
I can't get my brain 'round the name of the funds, nor can I pronounce it satisfactorily. "Rondeur" would have been in keeping with "Grandeur" and all Americans, save the French-speaking Mormons (like Mitt Romney) would mispronounce them both. Now we have to take a stab at a word that's in the dictionary but few of us can handle easily. Give us French to mangle, not archaic English.
Did anybody understand the advantages/disadvantages of Investor Class versus Institutional Class shares? Usually the minimum for Institutional shares is much higher. This makes them less liquid, the chance that an investor jumps in and out become smaller, so the price of servicing these shares is smaller, which reduces the costs. But if the minimum is the same for both classes, what are the difference, and why would anybody buy anything rather than the Institutional shares? Maybe their distribution channels will be different?
Well, if the brokerage setup is like it usually is, the inst. shares will have a lower E.R. but charge a transaction fee, and inv. shares will be NTF with a higher E.R. Many people seem to dislike paying a TF up front for inst. shares of funds (even if the fees paid in aggregate may end up lower, depending on the size of the investment and the holding period, due to the lower E.R.) -- so there will probably be a good bit of demand for the inv. shares on that basis alone.
Comments
Excerpt:
"PURCHASE AND SALE OF FUND SHARES
The Fund offers two classes of shares, Investor Class and Institutional Class shares. The minimum initial investment for both share classes is $2,000 for each account, or $1,000 if an Automatic Investment Program is established; except that the minimum to open an UGMA/UTMA or a Coverdell Education Savings Account is $100. There is no subsequent minimum investment amount for either share class. The Fund reserves the right to change the amount of these minimums from time to time or to waive them in whole or in part if, in the Adviser’s or the Fund’s opinion, the investor has adequate intent and availability of assets to reach a future level of investment in the Fund that is equal to or greater than the minimum."