Dec. 3, 2002 — Redemption fees will be added to six Standish Group stock mutual funds in January in an effort to discourage investors from rapidly buying and selling shares.
The 2% fees will be applied to shares bought on or after January 28 that are held less than 90 days, and will be paid directly to the funds. They are aimed at offsetting costs associated with short-term trading, Standish said in a regulatory filing.
The fees will be adopted by four funds that buy U.S. stocks: Standish:Select Value Fund (SDEQX), Standish:Small Cap Value Fund (STSVX), Standish:Small Cap Growth Fund/I (SSETX) and Standish:Small Capitalization Equity Fund (SDSCX).
They will also be added to two funds that invest abroad: Standish:International Equity Fund (SDIEX) , and Standish:International Small Cap Fund (SDISX).