Dec. 3, 2004 — Monetta Funds eliminated sales charges this week on its five mutual funds that carried them in an effort to increase sales.

Three Monetta stock funds had carried maximum 5.75% sales charges, or front-end loads, as had its balanced fund and its bond fund. The Monetta Fund (MONTX) previously did not carry a sales charge. The charges were lifted on Wednesday, according to a regulatory filing.

“We’ve decided that we’re not going to basically go through the broker distribution channels,” said Robert Bacarella, the fund company’s chairman and chief executive, who helps manage all its funds. Instead, the company will sell shares directly to investors, he said.

Bacarella said Monetta is pursuing smaller investors, including those who establish education and college education savings plans for children. This group of investors has been “abandoned” by “most” of the big fund companies, Bacarella said.

Monetta offers an investment program aimed at encouraging parents to save for the childrens’ college education while also teaching children about money management.

Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.