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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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Wednesday, May 14, 2008
International Coal Group Stockholders Elect Three Directors
Comtex
NEW YORK, May 14, 2008 /PRNewswire-FirstCall via COMTEX News Network/ ----International Coal Group, Inc. (NYSE: ICO) announced that Wilbur L. Ross, Jr., Bennett K. Hatfield and Wendy L. Teramoto were reelected at its annual meeting of stockholders held today as Class III directors for a three-year term on the Company's board of directors.
The stockholders also ratified the appointment of Deloitte & Touche LLP as International Coal's independent registered public accountants for the fiscal year ending December 31, 2008.
At the meeting, approximately 86% of the shares outstanding were represented and more than 80% of those shares were cast in favor of the Company's slate of directors.
ICG is a leading producer of coal in Northern and Central Appalachia and the Illinois Basin. The Company has 12 active mining complexes, of which 11 are located in Northern and Central Appalachia and one in Central Illinois. ICG's mining operations and reserves are strategically located to serve utility, metallurgical and industrial customers throughout the Eastern United States, as well as European export markets.
SOURCE International Coal Group, Inc.
Copyright (C) 2008 PR Newswire. All rights reserved
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