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American Beacon Unveils An Emerging Markets Product
Where is Shadow when you need him? (Many thanks for all the openings/closings Shadow finds.)
Curious sequence of dates - the prospectus date is August 28th (it was originally filed Aug 27th), it was refiled Sept 17th (with the same Aug 28th prospectus date), American Beacon put out a press release on Sept 19th saying that was the launch date, and MF Wire didn't seem to pick it up until yesterday (Oct 7th).
Investor class fees capped at 1.74% (1.73% cap plus an estimated 0.01% for acquired fund expenses) through Dec 31, 2014. Though there is a clawback provision - they can reclaim waived expenses to the extent that actual expenses drop below the cap (for a period of three years).
Also, for those who worry about NTF fees, 12b-1 fees, and the like ... The Investor shares don't charge 12b-1 fees to pay the brokerages, but they do charge an additional 0.375% in "shareholder servicing fees", that shows up in increased "other" expenses. Thus demonstrating that one way or another, fund shareholders get charged for the brokerage listings, and that charge can exceed 0.25% while the fund is still called a noload fund. It just has to bury the cost somewhere other than on the 12b-1 line.
(Yes, I'm making the wild leap of faith that Investor shares of this fund will be offered NTF as are Investor class shares of most American Beacon funds.)
Reply to @msf: You make a valid point, I'm rapidly coming to the conclusion that mfwire.com is worthless. Too many outdated articles and news. Regards, Ted
Yeah, we really need another EM fund. There just are not enough good options now? The two managers of this new fund have almost no EM experience. One is a former Harvard finance professor, and the other has a total of 2 months EM experience, according to the information available. There have been plenty of discussions about the really good managers out there who have actually managed EM portfolios for a while. My advice is to go with experience, especially with emerging markets.
Comments
Curious sequence of dates - the prospectus date is August 28th (it was originally filed Aug 27th), it was refiled Sept 17th (with the same Aug 28th prospectus date), American Beacon put out a press release on Sept 19th saying that was the launch date, and MF Wire didn't seem to pick it up until yesterday (Oct 7th).
Here's the Sept 17th prospectus filing.
Investor class fees capped at 1.74% (1.73% cap plus an estimated 0.01% for acquired fund expenses) through Dec 31, 2014. Though there is a clawback provision - they can reclaim waived expenses to the extent that actual expenses drop below the cap (for a period of three years).
Also, for those who worry about NTF fees, 12b-1 fees, and the like ... The Investor shares don't charge 12b-1 fees to pay the brokerages, but they do charge an additional 0.375% in "shareholder servicing fees", that shows up in increased "other" expenses. Thus demonstrating that one way or another, fund shareholders get charged for the brokerage listings, and that charge can exceed 0.25% while the fund is still called a noload fund. It just has to bury the cost somewhere other than on the 12b-1 line.
(Yes, I'm making the wild leap of faith that Investor shares of this fund will be offered NTF as are Investor class shares of most American Beacon funds.)
Regards,
Ted
No problem. I'm amazed at all the things you do post. Thanks.