The showings are so spectacular they overwhelm the drain on investors' returns from its 4.75% upfront sales load.
On top of this there's a sales load (not reflected in the performance number) of 5.75%.
Also, owning Constellation via a 401(k) lets you dodge its stiff 5.5% upfront sales load.
Calamos charges a sales load of 4.75% plus 1.13% in annual fees.
So why should investors pay fund managers an advisory fee of 1% and perhaps a sales load of 5% for this dubious service?
FORBES: Pensions Funds: Funding Unsavory Practices of Venture Capitalists (May 1, 2000)
To be sure, the performance numbers we publish are net of all costs (other than the sales load, if any, you pay on entering the fund).
The cost of a fund includes the sales load (if you buy through a broker) or transaction fee (if you buy through a fund supermarket).
Hardly a single mutual fund company with a sales load structure could justify offering only its own mutual funds to its employee 401(k), based upon fees and performance.
While the Vanguard fund does have a lower expense ratio than the BRIC ETF, investors need to watch out for the sales load if they decide to hold for shorter periods of time.
Without a sales commission to deter trading, no-load investors hold their positions for an average of a year and a half.
In 2006, Amazon announced that for every 100ms in load time there was a 1% decrease in sales.
The CS40 enables an all-encompassing business process transformation for mobile workforces in pre-sales, merchandising, field service, long haul and truck load transportation.
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To help make this pill palatable to working-class investors, fund families often stress at some point there will be no big, one-time front-end load, such as the 5.75% sales charge for traditional Class A fund shares.
Morgan Fleming European ( VEUCX) funds are no load, but AIM European Small Company has a front-end sales charge.
The hazard here is that GM might be tempted to load up the bank with poor-quality loans to shaky dealers in an effort to pump up vehicles sales, says Sean Egan, managing director of Egan-Jones Ratings.
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