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The suit contends that the pension, 401(k) and early retirement funds maintained for New York Life employees and agents would have hundreds of millions of dollars more in them today if not for the excessive fees.
For the five years ending September 2011, only 9.72 percent of large-cap funds, 6.08 percent of mid-cap funds and 3.27 percent of small-cap funds maintained a top-half ranking over five consecutive 12-month periods.
For example, the report says thatonly 5.84% of largecap funds, 2.83% of midcap funds and 7.95% of smallcap funds maintained top half performance over five consecutive 12 month periods.
But this view was predicated on the argument that when Congress in 1936 provided a tax exemption for common trust funds maintained by a bank, now 26 U.S.C. 584, it contemplated the exemption of common trust funds created for strictly investment purposes, and that consequently Congress must have assumed that the banking laws, which otherwise appear to proscribe such funds, were not applicable.
Notwithstanding anything in the foregoing to the contrary, nothing contained herein shall be construed as limiting your right to assert any right of offset or lien on assets that are not Funds maintained in the Account(s), or to impose such charges against us or any proprietary account maintained by us with you.
Not a single one of these top performing funds maintained its top quarter ranking in each of the remaining four years.
Similar(51)
State funds maintain the stables and the herds.
As a result, he supports the S.E.C.'s idea of requiring that funds maintain a capital cushion.
Most of these centers struggle as they try to raise funds, maintain stable staff, and build a membership base.
But the greatest fear for a fund manager is that a fund "breaks the buck" — that its share value falls below the stable $1-a-share price that money funds maintain.
Balanced Funds: Unlike the target date funds, these funds maintain a consistent asset allocation.
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CEO of Professional Science Editing for Scientists @ prosciediting.com