Grand Prix Fund's "sale" snares $4 million
February 1, 1999
Grand Prix Fund's one day sales charge break on January 15 brought in $1 million more in new assets than expected. For the one day, Target Investors, the fund's adviser, slashed the fund's front-end sales charge to one percent from a maximum of 5.25 percent. The company had expected to attract about $3 million to the fund which stood at $10 million in assets prior to the sale.