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One notable component of the expense ratio of U.S. funds is the "12b-1 fee", which represents expenses used for advertising and promotion of the fund. 12b-1 fees are paid by the fund out of mutual fund assets and are generally limited to a maximum of 1.00% per year (.75% distribution and .25% shareholder servicing) under FINRA Rules.
On December 3, 2003, the SEC proposed new rules to stop after-hours trading in mutual funds. [9] [10] On December 18, 2003, the SEC “announced an enforcement action against Alliance Capital Management L.P. (Alliance Capital) for defrauding mutual fund investors. The SEC ordered Alliance Capital to pay $250 million.
Oaktree Capital Management, Inc. is an American global asset management firm specializing in alternative investment strategies. As of March 31, 2023, the company managed $172 billion [7] for its clientele. The firm was co-founded in 1995 by a group that had formerly worked together at the TCW Group starting in the 1980s.
Capital Group is an American financial services company. It ranks among the world's oldest and largest investment management organizations, with over $2.6 trillion in assets under management. Founded in Los Angeles, California in 1931, it is privately held and has offices around the globe in the Americas, Asia, Australia and Europe .
The Fidelity Balanced Fund is a mutual fund that seeks income and capital growth with taking reasonable risk. The fund holds about 60 percent in equity securities and 40 percent in bonds and other ...
Distribution and services fee. Some funds charge an annual fee to compensate the distributor of fund shares for providing ongoing services to fund shareholders. In the United States, this fee is sometimes called a 12b-1 fee, after the SEC rule authorizing it. The distribution and services fee is paid by the fund and reduces net asset value.