Word: broker
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Loads can be particularly baffling. If you invest through a broker instead of directly through the fund company, you probably pay a load. To buy Class A shares, you often pay as much as 5% of your money up front before the fund company buys any stocks for you. Class B shares skip the up-front fee, but add an extra average fee of 1% annually and hit you with hefty fines if you cash out early, which proves more costly in the long run. "The whole idea of B shares," says Max Rottersman, founder of FundExpenses.com which tracks mutual...
...with civil fraud. They are accused of allowing an outside hedge fund (in which Pilgrim held a major stake) to make rapid trades in Pilgrim Baxter funds, a practice forbidden by the company. Baxter is also accused of giving details about the firm's holdings to a friend, a broker whose clients traded on the information. Asked if the allegation could lead to insider-trading charges, Spitzer said, "It's an issue that has to be worked through." An attorney for the two men declined to comment...
...Shenzhen, the first stop for most new arrivals is a local labor bazaar. Hopefuls put on their best clothes, pay a dollar for admission and enter a hall packed with hundreds of brokers offering jobs and better lives. On May 26, Zhang Ping, a long-haired, 19-year-old woman freshly arrived from Hubei province, left the Senxin Labor Market with such a broker. "I shouted after her to leave her mobile phone on," says Zhang's father, who had accompanied her there...
...named Hu who drives an illegal motorcycle taxi. "But then police pulled out body parts." Around the same time, police circulated a list of missing women to Shenzhen's labor markets. After months without progress, they caught a break when, according to a manager at one market, an unregistered broker, Ma Yong, was found to have bribed his way into running a booth. In his briefcase they found a r?sum? for one of the missing girls and notified police. Local reporters say a search of Ma's home revealed victims' shoes and bloodstains, and that Ma confessed...
...paid your broker a load, or sales commission, when you bought the fund, you should bail only if doing so will not trigger a back-end, or deferred, charge. *Contact the fund and ask for your "cost basis." If it is higher than your current account value, you can sell without owing any capital-gains...