Hearings, Reports and Prints of the Senate Committee on Banking and CurrencyU.S. Government Printing Office, 1967 - Banking law |
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Page 13
... amount shown in the preceding net assets column . 2 Ratio to average net assets for fiscal years ended July 1 , 1965 , to June 30 , 1966 , on the basis shown in the Commission's Report on the Public Policy Implications of Investment ...
... amount shown in the preceding net assets column . 2 Ratio to average net assets for fiscal years ended July 1 , 1965 , to June 30 , 1966 , on the basis shown in the Commission's Report on the Public Policy Implications of Investment ...
Page 27
... amount actually invested rather than as a percentage of the total gross dollar amount paid out by the in- vestor , an 8.5 percent sales load amounts to a sales charge of 9.3 per- cent of the value of the fund shares purchased and ...
... amount actually invested rather than as a percentage of the total gross dollar amount paid out by the in- vestor , an 8.5 percent sales load amounts to a sales charge of 9.3 per- cent of the value of the fund shares purchased and ...
Page 34
... amounts every month . Under the so - called voluntary plan , the investor makes his monthly payments and the same amount - typically 8 percent or 8.5 percent- is deducted from each payment to cover sales load , whether or not there is ...
... amounts every month . Under the so - called voluntary plan , the investor makes his monthly payments and the same amount - typically 8 percent or 8.5 percent- is deducted from each payment to cover sales load , whether or not there is ...
Page 35
... amount he has actually invested is so high that in any other context it would be , in the words of section 22 of the act , " unconsionable or grossly excessive . " Certainly I think anyone would agree that a sales charge of 100 per ...
... amount he has actually invested is so high that in any other context it would be , in the words of section 22 of the act , " unconsionable or grossly excessive . " Certainly I think anyone would agree that a sales charge of 100 per ...
Page 53
... amount invested . It is 50 percent of the amount he pays . Senator PROXMIRE . I want to go over this again . If he invests $ 10,000 the first year- Mr. COHEN . Only 50 percent of that goes to work for him . Senator PROXMIRE . $ 5,000 ...
... amount invested . It is 50 percent of the amount he pays . Senator PROXMIRE . I want to go over this again . If he invests $ 10,000 the first year- Mr. COHEN . Only 50 percent of that goes to work for him . Senator PROXMIRE . $ 5,000 ...
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advisory fees amendment amount average banks broker-dealers brokerage capital gains Chairman COHEN Commission's committee common stock compensation competition Congress contractual plan corporate costs court dealers distribution dividends economic effect equity Exchange Commission fact fee rates fiduciary firms front-end load Fund Plan Sponsors fund sales fund's gross growth holders income investment adviser Investment Company Act Investment Company Institute legislation load funds management fees Massachusetts Investors Trust ment million mutual fund industry mutual fund investors Mutual Fund Plan mutual fund shares NASD net asset value paid payments percent performance period persons planholders portfolio president profits proposal purchase question reasonable reduced reinvestment sales charges sales load salesmen sample Section 22(d securities business selling Senator BENNETT Senator MCINTYRE Senator PROXMIRE Senator WILLIAMS statement Stock Exchange substantial survey tion transactions unaffiliated directors voluntary plan Wellington Fund York Stock Exchange