Van Eck Kills B Shares On Global Hard Asset Fund
September 1, 2003
Van Eck Funds is planning on removing class B shares on its Global Hard Asset Fund as of Wednesday this week, a filing published with the Securities and Exchange Commission revealed. Beginning Oct. 31, all shareholders with class B shares will find those shares converted to class C. Shareholders will no longer be subject to the contingent deferred sales charge but to a contingent deferred redemption fee of 1% for one year after purchase of any class C share. B shares have come under increasing scrutiny over the last few months as regulators and investors have charged various brokerage firms' representatives with selling the expense-laden share class in order to pump up brokerage commissions.
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