Burnham Investors Trust today announced the introduction of a new institutional “I” share class to its Burnham Financial Industries Fund. The new class I shares are designed primarily to serve the needs of institutional investors, including fee-based programs, pension plans, endowment plans and foundations. Other investors meeting its eligibility requirements may purchase Burnham Financial Industries class I shares.
The Burnham Financial Industries Fund seeks capital appreciation by investing at least 80% of its assets in the common stocks of companies that are in the financial services sector. It is sub-advised by Mendon Capital Advisors Corp., and its portfolio manager is Mendon Chairman and CEO Anton Schutz.
In announcing the introduction of the new I share class, Burnham Asset Management Chairman and CEO Jon Burnham stated: “We are pleased to offer class I shares of our Burnham Financial Industries Fund. This class broadens the distribution of our product to the institutional market, which seeks a lower cost means of investing with Burnham and Anton Schutz.”
Burnham Financial Industries Fund class I shares carry a lower expense structure than the retail shares (class A and C) currently offered by Burnham Investors Trust. A minimum investment of $2 million is required for class I shares, but this requirement may be waived for certain financial intermediaries, including fee-based programs, pension plans, and financial intermediaries that submit trades on behalf of qualifying underlying investors or those who purchase in aggregate.
Burnham Financial Industry class I shares will be available directly from Burnham Securities Inc., Principal Distributor, as well as through its dealers, including third party retirement platforms, major mutual fund supermarkets, broker/dealers and independent registered investment advisors. The fund will be listed on the NASDAQ with symbol BMFIX, and trading will commence on December 16, 2009.
About Burnham Investors Trust
Burnham Investors Trust is committed to providing a high level of service to all of its clients. The Burnham family of mutual funds includes The Burnham Fund, Burnham Financial Services Fund, Burnham Financial Industries Fund and Burnham U.S. Government Money Market fund.
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For more complete information about this fund, including a free prospectus and performance current to the most recent month-end, please contact Burnham Securities Inc. at 800-874-FUND, or visit the website at www.burnhamfunds.com. The prospectus contains important information about the funds, including investment objectives, risks, management fees, sales charges, and other expenses which you should consider carefully. Please read the prospectus carefully before you invest or send money.
Owning mutual fund shares involves investment risk, including possible loss of principal. There are special risks associated with sector funds, which primarily limit their investments to companies in specific industries. This type of fund may be susceptible to factors affecting these industries, and the fund's value may fluctuate more than a fund that invests in a wider range of industries. Because the fund concentrates its investments in one sector of the economy (financial services), and it invests in derivative securities, investors should consider these risks because they may experience greater volatility than in a fund that invests across several sectors. In particular, companies within the financial services sector have recently been subject to unprecedented stock price volatility and depreciation, and there is significant uncertainty regarding the viability and prospects of many financial services companies. Investments in derivatives could magnify any of the fund's gains or losses. Derivatives involve a number of risks, including possible default by the other party to the transaction, illiquidity and, to the extent the manager’s view of certain market, security or interest rate movements is incorrect, the risk that the use of derivatives could result in losses greater than if they had not been used.
Shares of the funds are offered by Burnham Securities Inc., Principal Distributor, 1325 Avenue of the Americas, New York, NY 10019; 800-874-FUND; www.burnhamfunds.com.
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