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Some mutual funds want you to pay for the privilege of them (or your investment adviser) taking your money to invest. It's called a load, and it works like a cover charge to get into a nightclub. Luckily, there are such things as no-load funds. As the name implies, shares of these funds are sold without a fee paid to a broker or investment advisor.
The entire amount you invest in no-load funds goes to work for your returns. On the other hand, with load funds, right off the bat you're charged commission (not to mention other fees incurred over the life of the investment). Let's say, for example, you invest $25,000 into a load fund that charges a 5% commission. This costs you $1,250 off the top, bringing your actual investment down to only $23,750.
The often-cited horse race analogy argues against investing in load funds. Here's the logic behind it: Would you place a bet on a horse that had to start a race 200 yards behind the others? Well, maybe you would if you got a tip from a sketchy, trench coat-clad man in a dark alley. However, under most circumstances, it's not smart to put your money on that handicapped horse.
But some argue that at times that man in the trench coat (aka your broker) knows more about the horses than you do, and has a better shot at picking a winner. Also, sometimes these fees are unavoidable because some funds are available only through investment advisers.
Cost-benefit analysis can help determine when a load fund is worth it (in other words, when it will score you a load) and when it is better to "do it yourself" and avoid the fees. Load-fund fees range depending on share class and can cover a variety of costs, such as paper work and fund management.
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Friday, May 09, 2008
Federal Home Loan Bank of Atlanta Employees Travel to Gulf Coast for Habitat for Humanity's 2008 Jimmy and Rosalynn Carter Work Project
Comtex
ATLANTA, May 9, 2008 /PRNewswire via COMTEX News Network/ ----Employees from the Federal Home Loan Bank of Atlanta will travel from their midtown Atlanta home office to the Gulf Coast, May 11-16, to volunteer alongside former U.S. President and Nobel Peace Prize laureate Jimmy Carter and his wife, Rosalynn. FHLBank Atlanta will join thousands of corporate and independent volunteers as part of the 25th annual Jimmy and Rosalynn Carter Work Project, hosted by Habitat for Humanity of the Mississippi Gulf Coast. The Carter Work Project will build and rehabilitate 60 homes and frame up to 48 more in the host cities of Biloxi, Gulfport and Pascagoula, Mississippi where homes were damaged during Hurricane Katrina.
As part of this year's project, volunteers will build houses in Louisiana, Mississippi, Texas and Alabama. The Carters will visit some of these sites and help build houses in New Orleans and Covington, La.; Bay St. Louis, Miss.; and Mobile, Ala., to help raise awareness of ongoing recovery taking place in the communities along the Gulf Coast.
In total, more than 250 houses will be built or repaired by the end of the year as part of the overall project. Families will pay a no-profit mortgage for the homes, with mortgage payments recycled to build even more simple, decent and affordable housing in these communities.
"The missions of the Federal Home Loan Bank of Atlanta and Habitat for Humanity are compatible -- both provide decent and affordable housing opportunities," said Chris McEntee, Chairman of the FHLBank Atlanta's Community Involvement Committee. "The Bank has a long history with Habitat, having supported three work projects. It is only natural that we would be eager to get involved with this effort."
FHLBank Atlanta is a part of the Federal Home Loan Bank System and, along with the eleven other Federal Home Loan Banks, is the largest contributor to Habitat affiliates -- having helped to fund one out of every four Habitat homes built in the United States. In 2006, Bank volunteers helped out during another historic Habitat build -- the completion of the 500th "Katrina" recovery house in Mobile, Alabama. Many of these same FHLBank Atlanta employees will return to the Gulf Coast with the newest Carter Work Project, working alongside hundreds of volunteers from around the country.
The Carters remain Habitat's most famous volunteers. Each year since 1984, the Carters have given one week of their time to build homes and raise awareness about the need for simple, decent and affordable housing. Previous Carter Project events have been held in Los Angeles, Michigan, New York City, Hungary, the Philippines, South Korea and South Africa.
About FHLBank Atlanta
FHLBank Atlanta offers low-cost financing, community development grants, and other banking services to help more than 1,200 member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members-its shareholders and customers-are commercial banks, credit unions, thrifts, and insurance companies headquartered in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 12 district banks in the Federal Home Loan Bank System, which since 1990 has contributed more than $5 billion to affordable housing development in the United States.
25 Years of Building with the Carters
Former President Jimmy Carter and his wife, Rosalynn, have been helping Habitat for Humanity shine the spotlight on the need for affordable housing since 1984. That year, the Carters led a small team of Habitat volunteers to New York City to help renovate a six-story apartment building with 19 families in need of decent, affordable shelter. A quarter of a century later, that modest effort has grown into an internationally recognized annual event that has taken place in communities around the world.
About Habitat for Humanity of the Mississippi Gulf Coast
Habitat for Humanity of the MS Gulf Coast (HFHMGC) serves Harrison, Jackson and Stone counties. Since Katrina, HFHMGC has completed and started construction on 170 homes. HFHMGC believes every family deserves a 'place they can call home', and as such they are committed to providing the Mississippi Gulf Coast with clean, decent affordable and safe homes. While eradication of poverty housing is a challenge in all locations, it is particularly challenging in the light of hurricane Katrina. For more information on HFHMGC and how to volunteer or donate, go to www.hfhmgc.org .
About Habitat for Humanity International
Habitat for Humanity International is an ecumenical Christian ministry that welcomes to its work all people dedicated to the cause of eliminating poverty housing. Since its founding in 1976, Habitat has built more than 250,000 houses worldwide, providing simple, decent and affordable shelter for more than 1 million people. For more information, visit www.habitat.org .
SOURCE Federal Home Loan Bank of Atlanta
http://www.fhlbatl.com
Copyright (C) 2008 PR Newswire. All rights reserved
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