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Learning Center
Difference Between Share Classes
| Share Class |
Description |
| Class A Shares |
Typically requires payment of a sales charge at the time of purchase (front end). Certain purchases may be subject to a CDSC. See prospectus for details. |
| Class B Shares |
May require payment of a contingent deferred sales charge (CDSC) at the time of redemption (back end). The CDSC rate is a sliding scale over 6 years and decreases based upon the number of years you hold the shares. Class B shares automatically convert to Class A shares at the start of the 9th year. |
| Class C Shares |
Purchases are made at Net Asset Value, without an up front sales charge. However, a 1% contingent deferred sales charge (CDSC) will be applied if the shares are redeemed within 12 months of the purchase date. Class C shares do not convert to Class A shares. |
| Class I Shares |
Intended for use by large institutional customers, such as plan sponsors with combined defined contribution plans with more than $100 million in assets, defined benefit plans, endowments, and foundations. |
| Class R Shares |
An investment vehicle for the smaller retirement plan marketplace that is offered with no load, and is geared to plans with less than $10 million in assets. |
Minimum Initial Investment Amounts
| Account Type |
Minimum Initial Investment |
Minimum Initial Investment with
a Systematic
Purchase Plan |
Minimum Additional
Investment
(including Systematic Purchase Plans) |
| Traditional IRA , Roth IRAs, and Coverdell ESAs |
$250 |
$25 |
$25 |
| All other accounts |
$1000 |
$50 |
$50 |
Account Types
| Non-retirement |
| Individual |
An account owned by one person who has complete control of the account. Upon death of the owner, the account becomes part of their estate.
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| Joint Tenants with Rights of Survivorship |
An account owned equally and entirely by two or more individuals. Upon death, a tenant's portion of the account automatically passes to the surviving owners.
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| Tenants in Common |
An account with specified percentages owned by two or more individuals. Upon death, a tenant's portion of the account automatically passes to the tenant's estate.
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| Tenants by Entirety |
An account owned between husband and wife in which each tenant has full interest in the account. Upon the death of one spouse, the survivor takes title immediately.
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| Community Property |
An account owned equally by a married couple. In the event of divorce, the account is divided equally. In the event of death, the deceased owner's portion of the account automatically passes to the surviving owner.
This type of registration is only allowed in certain states.
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| Transfer on Death (TOD) |
A form of ownership that allows for one or more beneficiaries to be named on an Individual, Joint Tenants with Rights of Survivorship, or Community Property Account.
The registered owner(s) retains all rights to the account during his or her lifetime. Thus, the beneficiary has no claim on the account, or legal right to conduct transactions while the owner(s) is alive. Upon death, the account can usually be transferred to the beneficiary(ies) outside of probate.
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| Trusts |
An account owned by a legal entity managed by an individual(s) for the benefit of another person(s). A trust is comprised of a grantor, a trustee (manager), and a beneficiary or beneficiaries.
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| Corporate Account |
An account owned by an entity created under state law, which may hold property in its own name, and limits the owners' liabilities to the amount invested.
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| Partnership Account |
An account owned by two or more people in a joint business that agrees to pool their funds and talent and share in the profits and losses of the enterprise.
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| UGMA/UTMA |
Uniform Gifts/Transfers to Minors Act accounts allow an individual to give mutual fund shares to a minor as a complete and irrevocable gift. The account is managed by a custodian until the child reaches the age of majority.
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| Education |
| Coverdell Education Savings |
An account that allows nondeductible annual contributions for the benefit of a child. Withdrawals used for qualified education expenses are tax-free.
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| Retirement |
| Traditional and Roth IRAs |
A retirement savings account that provides individuals with the opportunity to accumulate tax-deferred (Traditional) or tax-free (Roth) earnings on contributions to the account.
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| SEP IRA |
An employer-sponsored retirement plan that allows for contributions to be made into each employee's SEP-IRA account.
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| SIMPLE IRA |
A Savings Incentive Match Plan for Employees is a retirement account that requires employers to match employee contributions.
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| 401(k) and 403(b) Plans |
An employer-sponsored retirement plan that allows the employee to make pre-tax contributions through payroll deductions. Employer contributions to 401(k) plan accounts are optional.
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| Money Purchase Plan |
An account where contributions are made in fixed amounts and are based upon the employee's compensation. Contributions are not affected by the employer's profits.
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| Profit Sharing Plan |
A contribution plan where the employer agrees to make substantial and recurring contributions. Contributions are generally based on the employer's profits.
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| Solo 401(K) |
A 401(K) plan for owner-only businesses - those with no employees other than the owner's spouse and no plans to add employees in the near future.
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Opening a New Account
We believe that a financial advisor's guidance is essential to successful financial planning. That is why new account forms are not available online. We strongly urge you to open an account with a financial advisor.
Purchase Blocking Policy
Any shareholder redeeming shares having a value of $5,000.00 or more from a Fund on any trading day will be precluded from investing in that Fund on a given day, for 30 calendar days following the redemption transaction date. Please refer to the applicable fund's prospectus to determine whether that fund imposes a purchase block.
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