Excelsior Funds Add 'R' Shares

January 4, 2005 (PLANSPONSOR.com) - The US Trust-advised Excelsior Funds have added a new Retirement Share class ("R" share) to their family of funds.

A news release said the retirement shares were designed for the small-to-mid level group retirement plans with up to $10 million in plan assets.

The new shares will be available through third-party retirement platforms and broker-dealers the company said.   The shares will be sold with no front-end or contingent deferred sales loads and will carry a .50% Rule 12b-1 fee.   Class R shares are offered to 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit-sharing and money purchase pension plans, defined benefit plans and certain non-qualified deferred compensation plans, according to the announcement.

The new shares are being added to the following six funds, the:

  • Excelsior Value and Restructuring Fund
  • Excelsior Small-Cap Fund
  • Excelsior Mid-Cap Value Fund
  • Excelsior Large-Cap Growth Fund
  • Excelsior Equity Income Fund
  • Excelsior Managed Income Fund.  

“We are creating an Excelsior Fund Retirement Share Class to meet the needs of small-to-medium sized group retirement plans,” said Joseph Trainor, president of US Trust Institutional., in the news release. “The new ‘R’ shares offer additional options to third-party administrators who are focused on providing competitively-priced investment solutions to the small-to-medium sized group retirement plan market.”

More information is at  http://www.excelsiorfunds.com/ .