Burnham Investors Trust Launches 'Burnham Financial Industries Fund', Managed by Mendon Capital's Anton Schutz
03 Mai 2004 - 2:00PM
PR Newswire (US)
Burnham Investors Trust Launches 'Burnham Financial Industries
Fund', Managed by Mendon Capital's Anton Schutz NEW YORK, May 3
/PRNewswire/ -- Burnham Investors Trust announced today that its
new Financial Industries Fund, Classes A and C, became effective
with the new prospectus dated May 1, 2004, and is available for
purchase through Burnham Securities Inc., its principal
distributor, and other broker dealers. The Financial Industries
Fund, a sector fund, seeks capital appreciation by investing at
least 80% of its assets in the common stocks of companies that are
in the financial services sector. Unlike the existing Burnham
Financial Services Fund which invests primarily in
small-capitalization financial service companies, this fund will
invest primarily in medium to large-capitalization financial
service companies. The Burnham Financial Industries Fund is managed
by Burnham Asset Management and Mendon Capital serves as its
investment subadviser. Mendon Capital's founder and CEO, Anton V.
Schutz, is the fund's Portfolio Manager. Mendon Capital is
presently the investment subadviser of our Burnham Financial
Services Fund, which is rated "Five Stars" by Morningstar, and was
a recipient of the Lipper Leader Award for 2003 and 2004. The
Burnham Financial Services Fund closed to most new investors
February 13, 2004. "We are pleased to offer another vehicle for
investors who believe, as we do, that the diverse financial sector
can provide opportunities for investors to outperform the equity
markets in general," stated Jon Burnham, Chairman of Burnham
Investors Trust and Burnham Financial Group. Added Mr. Schutz, "I
look forward to managing a second financial services mutual fund as
I believe that there continues to be much opportunity to make money
in these sectors. Over forty thousand financial services companies
remain in the United States, making it one of the most fragmented
industries and markets in the world and subject to continued
consolidation. The size of the industry alone creates investing and
trading opportunities; these companies have different approaches to
taking or managing risk, for better or for worse, to set themselves
apart from the rest of the pack." The fund's Class A shares are
offered with a maximum sales charge of 5%, and Class C shares are
offered subject to a 1% contingent deferred sales charge if shares
are redeemed within one year after purchase. Class A shares are
available at no-load through financial intermediaries (such as
registered investment advisors) and Charles Schwab & Co.'s
Mutual Fund Marketplace. The Fund will be listed on the NASDAQ
under BURFX for Class A shares, and BURCX for Class C shares.
Burnham Investors Trust is committed to providing a high level of
service to all of its clients. The Burnham family of mutual funds
includes The Burnham Fund, Burnham Financial Services Fund, Burnham
Financial Industries Fund and two money market funds. The average
annualized total returns for one-year, three-year and since
inception (June 7, 1999) periods ended March 31, 2004 of the
Burnham Financial Services Fund's Class A shares were 46.64%,
28.02% and 29.10%, respectively. Including the maximum sales charge
(5%) and all fees, performance was 39.31%, 25.85% and 27.74%,
respectively. Past performance is no guarantee of future results.
Investment return and value of shares will fluctuate, so that those
shares, when redeemed, may be worth more or less than their
original cost. All returns reflect reinvested dividends, but do not
reflect the deduction of taxes that an investor would pay on
distributions or redemptions. Performance is for the periods
indicated and is for the Burnham Financial Services Fund (not the
Burnham Financial Industries Fund) and current performance may
differ due to market volatility. For more complete information
about either fund including a free prospectus and current fund
performance, please contact Burnham Securities Inc. The prospectus
contains important information about the funds, including their
management fees, sales charges, and other expenses. Please read the
prospectus carefully before you invest or send money. Sector funds
primarily limit their investments to companies in specific
industries. This type of fund may be susceptible to factors
affecting these industries, and each fund's value may fluctuate
more than a fund that invests in a wider range of industries.
Because each fund concentrates its investments in one sector of the
economy (financial services), and it invests in derivative
securities, investors should consider these risks because they may
experience greater volatility than in a fund that invests across
several sectors. Morningstar Inc. is an independent monitor of fund
performance and has no relationship with Burnham Securities Inc.
Morningstar rates mutual funds from one to five stars based on how
well they've performed (after adjusting for risk and accounting for
all sales charges) in comparison to similar funds. Within each
Morningstar Category, the top 10% of funds receive five stars, the
next 22.5% four stars, the middle 35% three stars, the next 22.5%
two stars, and the bottom 10% receive one star. Funds are rated for
up to three time periods -- three-, five-, and 10 years -- and
these ratings are combined to produce an overall rating. Funds with
less than three years of history are not rated. Ratings are
objective, based entirely on a mathematical evaluation of past
performance. They're a useful tool for identifying funds worthy of
further research, but shouldn't be considered buy or sell
recommendations. Under no circumstances does information about
Lipper Leader funds constitute a recommendation to buy or sell
mutual funds. Lipper Leaders measures past fund performance, and
investors should remember that past performance is no guarantee of
future results. Lipper Leaders status is calculated monthly using
data available at the time of calculation; Lipper undertakes no
responsibility for updating the calculations more frequently than
monthly to incorporate more current data. For more information,
please email Shares of the fund are offered by Burnham Securities
Inc., principal distributor, 1325 Avenue of the Americas, New York,
NY 10019; 800-874-FUND; www.burnhamfunds.com. DATASOURCE: Burnham
Investors Trust CONTACT: Debra B. Hyman of Burnham Securities,
+1-212-603-7511 Web site: http://www.burnhamfunds.com/
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