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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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Monday, May 05, 2008
Pure Michigan Summer Advertising Campaign Launches Today
Comtex
LANSING, Mich., May 5, 2008 /PRNewswire via COMTEX News Network/ ----The 2008 Pure Michigan summer campaign hits the airways May 5th. Increased tourism promotion funding arrived in time to capture the attention of potential out-of-state visitors as they make this summer's travel plans. "With the additional promotional dollars, we will enhance the Pure Michigan presence in our key markets and expand the campaign into Columbus, Dayton and St. Louis for the first time," said George Zimmermann, vice president for Travel Michigan, a business unit of the Michigan Economic Development Corporation.
In addition to Columbus, Dayton and St. Louis, out-of-state advertising started today in Chicago, Milwaukee, Indianapolis, Cleveland, Cincinnati, Toledo, Ft. Wayne, South Bend, Green Bay and Ontario, Canada. In-state advertising will air in Michigan starting May 12th. The tourism promotion budget for 2008 is $17.5 million, up from $13.2 million in 2007.
The bill signed by Michigan's Governor Jennifer Granholm to increase the Pure Michigan tourism promotion campaign promises to return millions to the state, based on a recent study commissioned by Travel Michigan, the state's official tourism marketing office. Longwoods International, a research firm specializing in tourism advertising return on investment (ROI), showed that for each dollar spent on advertising in out-of-state markets, $2.82 came back to the state of Michigan in the form of new tax revenue.
"The study evaluated the impact of Travel Michigan's advertising campaign from 2004-2007," said Zimmermann. "During those four years our $20 million in advertising in Chicago, Cleveland, Indianapolis, Cincinnati, Milwaukee, and Ontario, Canada attracted more than 3.8 million visitors who would not have traveled to Michigan otherwise. They spent more than $800 million statewide at Michigan businesses, resulting in an additional $56.4 million in new tax dollars for the state treasury. The bottom line is that Michigan's ROI from tourism promotional activities is positive for the state," said Zimmermann.
The Pure Michigan advertising program touts the state's natural resources, recreational activities and cultural attractions through television and radio spots, outdoor boards, public relations programs and the michigan.org Web site. "The campaign communicates what is magic, unspoiled, timeless and true about the state," said Zimmermann. Pure Michigan has received awards and generated unprecedented interest since it launched in 2006, and has helped make michigan.org the number one state tourism Web site in the nation in 2007. Tourism is a vital industry in Michigan, contributing $18.8 billion to Michigan's economy annually. It accounts for 200,000 jobs and generates $1.1 billion in state tax revenues.
Travel Michigan, a division of the Michigan Economic Development Corporation, is the State of Michigan's official agency for the promotion of tourism. Travel Michigan markets the state's tourism industry and provides valuable visitor information services. For more information on traveling in the State of Michigan, visit the official travel Web site at michigan.org.
Contact: Kirsten Borgstrom, (517) 335-1871
Jenny Schilp, (248) 225-6744
SOURCE Travel Michigan
http://www.michigan.org
Copyright (C) 2008 PR Newswire. All rights reserved
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