Word: loaded
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Whatever marketing professors might think of that reply, it describes the strategy of the little known "no-load" mutual funds. Four years ago, there were 65 no-load funds. Now there are 160 with 1.4 million shareholder accounts, a fourfold increase. Last year, when mutual funds as a whole suffered an excess of redemptions over sales, the no-loads went on registering increases in net sales...
Like other mutual funds, the no-loads pool cash from small investors into a big kitty and invest it in stocks. The distinction is that they dispense not only with expensive salesmen but with the "load," or sales commission, that regular mutual funds charge; such loads usually run about $8.50 for each $100 invested. By contrast, a no-load fund charges only a management fee of 50? per $100 or less. The no-loads depend upon newspaper ads that invite potential investors to write or telephone for a prospectus, plus word-of-mouth recommendations...
...older and larger no-load funds were formed mostly by investment counselors as a handy way of attracting investors whose accounts were too small to merit individual attention. T. Rowe Price Associates of Baltimore, an investment counselor, owns the biggest no-load fund, T. Rowe Price Growth Stock Fund, and two other large ones, Rowe Price New Horizon and Rowe Price New Era. The assets of these three funds account for 26% of the entire no-load industry's assets of $5.8 billion. Recently, some of Wall Street's investment houses have also been setting up no-load...
...seasoned 5th, 7th and 9th divisions are believed to have slipped across the Cambodian border into the dense jungles northwest of Saigon; U.S. intelligence sources believe that the Communist troops are prepared to launch attacks on two hours' notice. At a checkpoint outside the capital last week, a load of Communist AK-47 assault rifles was discovered in a civilian truck...
...best when he describes the fires he has fought. In scene after scene the men of Company 82 race up the stairs of flaming tenements, hose-whip tornadoes of dark orange flame, crawl through smoke as thick as gravy, groping for bodies, stagger out with a tragic load of suffocated mothers and babies, then puke black phlegm all over the pavement. Many victims, it is true, are brought out alive-Engine Co. 82 performs prodigies of rescue every...