BayBank expands mutual fund product line; variety of funds from Fidelity and other leading fund providers now available through BayBank.BOSTON--(BUSINESS WIRE)--Dec. 1, 1994--BayBank today announced the addition of new mutual funds to the company's expanding list of investment options offered with investment counseling. BayBank customers can now invest in nationally recognized funds from Fidelity Investments Fidelity Investments is a group of privately held companies in the financial services industry. It is made up by two independent but closely cooperating companies, Fidelity Management and Research Corporation (FMR Co. , Franklin/Templeton Group, Putnam Investments Putnam Investments was founded in 1937 by George Putnam. At the same time, he founded its first mutual fund offering, The George Putnam Fund of Boston.[1] Putnam has offices in London and Tokyo, and its headquarters is located in Boston, Massachusetts. , John Nuveen & Co. Incorporated, Eaton Vance Eaton Vance is an American financial services company headquartered in Boston, MA. It is traded on the New York Stock Exchange under the symbol EV.[1] At the end of the second quarter of the 2006 fiscal year, the company had assets under management of $118.8 billion. Distributors Inc., in addition to the BayFunds, BayBank's proprietary family of no-load mutual funds No-load mutual fund An open-end investment company whose shares are sold without a sales charge. There can be other distribution charges, however, such as Article 12B-1 fees. A true no-load fund has neither a sales charge nor a distribution fee. . Investment options at BayBank now comprise more than 50 funds that pursue various objectives including equity, taxable fixed income and tax exempt fixed income. Previously, BayBank offered a total of 21 mutual fund options including the BayFunds. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Richard F. Pollard pollard fine protein-rich feed supplement for farm animals; a byproduct from the milling of wheat for flour. Called also shorts. , vice chairman of BayBanks Inc., these fund families were selected to broaden the product line, meet customer demand for more investment vehicles, and to complement the BayFunds. BayBank adhered to a rigorous selection process to choose the new funds. Selections were made based on consistent performance and reputation. "The availability of nationally recognized mutual funds, combined with the ability to receive personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. investment advice from specially trained and registered investment specialists, is a major incentive for investors to invest through BayBank," said Pollard. "BayBank customers can discuss their financial objectives with an investment specialist and choose from a selection of highly regarded mutual funds to develop a solid portfolio. With more than 5,000 mutual funds on the market, individual counseling is a valuable resource as investors face the difficult challenge of determining how to achieve their financial goals." Other benefits of investing in mutual funds through BayBank include convenience and flexibility. Investors can obtain information about investing through BayBank in more than 200 branch locations or have the option of calling 1-800-BAY-FUND. Through BayBank, investors can also make mutual fund purchases from savings and checking accounts. BayBanks Inc., headquartered in Boston, is one of New England's largest bank holding companies with assets of $10.5 billion as of Sept. 30, 1994. BayBanks provides a full range of banking services through an extensive banking network that includes 202 full service offices and 356 automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. banking facilities serving 158 cities and towns in Massachusetts This is a complete list of towns in Massachusetts, arranged in alphabetical order. These 301 towns were incorporated under Massachusetts law, and have not formed a city government.
-0- Important Information: Mutual Funds are not bank deposits or FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insured, and are not endorsed or guaranteed by BayBank, nor are they federally insured. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed re·deem tr.v. re·deemed, re·deem·ing, re·deems 1. To recover ownership of by paying a specified sum. 2. To pay off (a promissory note, for example). 3. , may be worth more or less than their original cost. Securities transactions may be effected through Investment Specialists who are registered representatives of BayBanks Brokerage Services Inc., member NASD/SIPC. Shares of the BayFunds Portfolios are distributed by Federated Connected and treated as one. See federated database and federated directories. Securities Corp. For more complete information about a particular mutual fund, including charges and expenses, please request a prospectus by calling 1-800-BAY-FUND. Read the prospectus carefully before you invest or send money. -0-
MUTUAL FUNDS MADE AVAILABLE THROUGH BAYBANK
Fact Sheet
OVERVIEW Mutual funds available through BayBank include six proprietary no-load BayFunds and nearly 50 mutual funds from Fidelity Investments, Putnam Investments, Franklin/Templeton Group, John Nuveen & Co. Incorporated and Eaton Vance Distributors Inc. Specially trained and registered investment specialists are available to discuss customers' financial goals and objectives, answer questions about each mutual fund available through BayBank, present alternatives, and provide investment advice. Customers have easy access to all the information they might need to make an informed investment decision. The investment specialists are employed by BayBank Brokerage Services Inc., a subsidiary of Boston-based BayBanks Inc., one of New England's largest bank holding companies with assets of $10.5 billion as of Sept. 30, 1994. BAYFUNDS The BayFunds are a family of six no-load mutual funds including three money market funds, two bond funds and an equity fund. The BayFunds family of mutual funds, with assets of more than $1.3 billion, is principally managed by the investment managers at BayBank who oversee stock, bond, and money market assets for the company and its institutional and trust customers. The BayFunds offer customers a conservative investment option with no sales load Sales load See: Sales charge sales load See load. . The BayFunds family of mutual funds is managed by investment managers at BayBank -- financial professionals with extensive investment experience. Unlike other no-load mutual funds made available through many mutual fund companies, BayBank provides investment specialists offering advice and guidance on developing an investment strategy. Money Market Funds: o BayFunds Money Market Portfolio o BayFunds U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Money Market Portfolio o BayFunds Shares - Massachusetts Municipal Cash Trust Bond Funds: o BayFunds Short Term Yield Portfolio o BayFunds Bond Portfolio Equity Funds: o BayFunds Equity Portfolio STRATEGIC PARTNERSHIPS Fidelity Advisor Funds The Fidelity Advisor Funds are a family of mutual funds developed and positioned for distribution primarily through banks and broker-dealers. Fidelity Investments, founded in 1946, is the largest mutual fund company in the world with over $250 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . Fidelity has a long history of providing mutual funds that meet a variety of objectives. Through BayBank, customers can now invest in mutual funds with a brand name they recognize and can benefit from the investment guidance offered by investment specialists. Equity Funds: o Fidelity Advisor Income & Growth Fund o Fidelity Advisor Equity Income Fund o Fidelity Advisor Growth Opportunities Fund o Fidelity Advisor Global Resources Fund o Fidelity Advisor Strategic Opportunities Fund o Fidelity Advisor Overseas Fund Taxable Bond Taxable Bond A debt security whose return to the investor is subject to taxes at the local, state or federal level, or some combination thereof. Notes: The majority of bonds issued are taxable bonds. Funds: o Fidelity Advisor Short Fixed-Income Fund o Fidelity Advisor Limited Term Bond Fund o Fidelity Advisor High Yield Fund Tax Exempt Bond Funds: o Fidelity Advisor Short-Intermediate Tax-Exempt Fund o Fidelity Advisor High Income Municipal Fund Putnam Investments Family of Funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". Putnam Investments, founded in 1937, is one of the largest money management firms in the world. Putnam has over $70 billion in assets under management in approximately 51 publicly offered mutual funds, institutional accounts and retirement plans. The Putnam Investments Family of Funds has distinguished itself as one of the premier equity and fixed income mutual fund families. The Putnam funds offer BayBank customers a variety of mutual funds from a well-regarded money management firm based in Boston. Equity Funds: o George Putnam George Putnam may refer to:
o Putnam Fund for Growth & Income o Putnam Asset Allocation Funds asset allocation fund An investment company that varies the proportion of its portfolio devoted to stocks, bonds, and money market securities in order to reduce the variability of returns and to take better advantage of different segments of the securities :
- Conservative Portfolio
- Balanced Portfolio
- Growth Portfolio
o Putnam Vista Fund o Putnam Global Growth Fund o Putnam Voyager Voyager, airplane Voyager, the first airplane to circumnavigate the earth nonstop on a single load of fuel. Designed by Burt Rutan and flown by Dick Rutan and Jeana Yeager, Voyager took off from California on Dec. Fund o Putnam New Opportunities Fund o Putnam OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Emerging Growth Fund o Putnam Europe Growth Fund o Putnam Asia Pacific Fund Taxable Bond Funds: o Putnam Diversified diversified (di·verˑ·s Income Fund o Putnam Income Fund o Putnam High Yield Trust Tax Exempt Bond Funds: o Putnam Municipal Income Fund o Putnam MA Tax-Exempt Income Fund Tax-exempt income fund A mutual fund that seeks income that is exempt from federal and, in some cases, state and local income taxes. II o Putnam Tax-Free High Yield Fund Franklin/Templeton Group of Funds group of funds See family of funds. The Franklin/Templeton Group, founded in 1948, today has more than $113 billion in assets under management and provides nearly 100 separate offerings. Franklin purchased the Templeton Group of mutual funds in 1992 and increased the organization's asset base by over $28 billion dollars. BayBank customers now have access to mutual funds from the country's largest tax-free bond fund manager and global and international funds unrivaled by other mutual fund companies. Equity Funds: o Franklin Equity Income Fund o Franklin Utilities Fund o Franklin Income Fund o Templeton Growth Fund o Templeton Foreign Fund o Franklin Convertible Securities Fund o Templeton Small Company Growth Fund Taxable Bond Funds: o Franklin U.S. Government Securities Fund o Franklin Investment Grade Income Fund Tax Exempt Bond Funds: o Franklin Federal Intermediate-Term Tax Free Fund o Franklin Insured Tax-Free Income tax-free income The income received but not subject to income taxes. For example, interest from most municipal bonds is free of federal income taxes and often from state and local income taxes as well. Compare tax-deferred income, tax-sheltered income. Fund o Franklin MA Insured Tax-Free Income Fund o Franklin Federal Tax-Free Income Fund o Franklin CT Tax-Free Income Fund o Franklin High Yield Tax-Free Income Fund John Nuveen & Co. Inc. John Nuveen & Co. Inc., with assets of over $29 billion under management, has long dominated the exchange-traded mutual fund and unit investment trust markets for municipal investments. It entered the open-end mutual fund business in 1976 and has since branched into state-specific funds. Nuveen is among the most respected municipal investment organizations in the industry. Through BayBank, customers have the option to invest in tax-free mutual funds from one of the industry's leading bond specialists and receiving investment advice from a registered investment specialist. Tax Exempt Bond Funds: o Nuveen Insured Municipal Bond o Nuveen Municipal Bond Fund Municipal Bond Fund A mutual fund that invests in municipal bonds, operating either as an investment trust or as an open-end fund. Notes: Because the bonds are local government issues, they usually help to maximize tax-exempt income. o Nuveen MA Insured Tax-Free Value Fund o Nuveen MA Tax-Free Value Fund Eaton Vance Distributors Inc. Eaton Vance Distributors Inc., founded in 1924, is based in Boston and has over $12 billion in assets under management. The two Eaton Vance funds made available through BayBank are offered with investment counseling. Equity Fund: o Eaton Vance Investors Fund Tax Exempt Bond Fund: o Eaton Vance MA Limited Maturity Fund Important Investing Information Mutual funds are not bank deposits or FDIC insured, and are not endorsed or guaranteed by BayBank, nor are they federally insured. Investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Securities transactions may be effected through Investment Specialists who are registered representatives of BayBanks Brokerage Services Inc., member NASD/SIPC. Shares of the BayFunds Portfolios are distributed by Federated Securities Corp. For more complete information about a particular mutual fund, including charges and expenses, please request a prospectus by calling 1-800-BAY-FUND. Read the prospectus carefully before you invest or send money. CONTACT: BayBanks Inc. Bruce Spitzer, 617/788-7812 |
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