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Three Royce Funds to start offering A class shares
Have I traveled in time back to the 1980s? Where's the DeLorean? American Century introduced its A shares mostly in the late 90s, and at least one, ALPAX, after 1999, but I get your point.
What a surprise...three of the better Royce funds. Legg Mason, a true fiduciary Franklin Templeton. LM is just a subsidiary now, albeit semi-autonomous.
I thought it was strange that Royce would start to offer "A" share class See above. Franklin Templeton is coordinating breakpoints across multiple brands of its funds: "Certain financial intermediaries may allow you to combine multiple purchases of shares of certain Royce, Franklin Templeton, and Legg Mason funds to take advantage of the breakpoints in the sales charge schedule for A Class shares."
Yeah I'm going to run right out and buy a 5.25% loaded fund in 2021. LOL Actually, if you want any of these funds, you may very well run out and buy the A shares, though load-waived. "Shareholders purchasing A Class shares through certain financial intermediaries or in certain types of accounts may be eligible for a waiver of the sales charge"
That's what's key here. Often what happens (see Lewis' 1980s funds) is that the retail class is restricted (closed, or made into an institutional class, or ...), and one winds up purchasing A shares, load waived, with their added 12b-1 fee.
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American Century introduced its A shares mostly in the late 90s, and at least one, ALPAX, after 1999, but I get your point.
What a surprise...three of the better Royce funds. Legg Mason, a true fiduciary
Franklin Templeton. LM is just a subsidiary now, albeit semi-autonomous.
I thought it was strange that Royce would start to offer "A" share class
See above. Franklin Templeton is coordinating breakpoints across multiple brands of its funds: "Certain financial intermediaries may allow you to combine multiple purchases of shares of certain Royce, Franklin Templeton, and Legg Mason funds to take advantage of the breakpoints in the sales charge schedule for A Class shares."
Yeah I'm going to run right out and buy a 5.25% loaded fund in 2021. LOL
Actually, if you want any of these funds, you may very well run out and buy the A shares, though load-waived. "Shareholders purchasing A Class shares through certain financial intermediaries or in certain types of accounts may be eligible for a waiver of the sales charge"
That's what's key here. Often what happens (see Lewis' 1980s funds) is that the retail class is restricted (closed, or made into an institutional class, or ...), and one winds up purchasing A shares, load waived, with their added 12b-1 fee.
Even now, if one wants to buy PENNX at Fidelity or at Schwab, one will pay a transaction fee. You can buy RYPFX (service class shares) with its 12b-1 fee, same ER as the new A shares, NTF.