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| Munder Fund Share Classes |
A complete description of the available classes can be found in each Fund's prospectus. The Munder Funds offer several
classes of shares: Class A, Class B, Class C, Class R, Class K, Class Y and Class I shares. Not all Funds offer the same classes. Class A
and Class C shares are currently offered to all investors. Class B shares are currently only offered to existing Class B shareholders and
other limited investors as described in the Funds' prospectuses. Class R shares are only available through 401(k) or similar plans or programs.
Class K shares are only offered to customers of Comerica Bank and other limited financial institutions. Class Y shares are generally available
to institutional investors investing at least $1 million, clients of registered investment advisors that utilize institutional trading platforms
approved by the Funds, and investors in wrap-fee programs or employee benefit plans approved by the Funds. Class I shares generally available to
investors investing at least $2 million and clients of intermediaries with over $10 million in client investments in Class I shares of a Fund.
For more information on the share classes available for any Fund, please read the Fund's prospectus.
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There are two types of costs associated with mutual fund investing:
- Sales charges (loads) are paid whether you buy direct or through a broker.
Front-end Load - Paid when shares are purchased.
Back-End Load - Paid only if shares are sold within a certain period of time. Also known as Contingent Deferred Sales Charge or CDSC.
Level Load - An annual charge that remains constant year to year.
- Fund Operating Expenses represent the costs involved in operating the fund, including management fees, distribution and/or service fees and other ongoing expenses.
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The most commonly offered classes of shares are Class A, Class B and Class C shares.
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Learn more about:
Munder Class A Shares or Front-end Load Shares
Munder Class B Shares or Back-end Load Shares
Munder Class C Shares or Level Load Shares
How do I choose between Class A, Class B and Class C shares?
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Each class of shares has its own cost structure, allowing you to choose the class that best meets your
requirements given the amount of your purchase and the intended length of your investment. You should consider both ongoing
annual expenses and initial or deferred sales charges in estimating the costs of investing in a particular share class. Class
A and Class C shares are available to all investors. Class B shares are no longer offered to new investors, except in limited
circumstances. Other share classes are also subject to limited availability. Please consult your financial advisor or see the
applicable Fund prospectus for further information on share class
availability and comparisons of fees and expenses.
An investor should consider a Fund's investment objectives, risks, and charges
and expenses carefully before investing or sending money. This and other important information about the
investment company can be found in the Fund's prospectus. To obtain a prospectus, please click
here. Please read the prospectus carefully before investing.
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Fund Operating Expenses
All mutual funds, whether or not they charge sales commissions, have ongoing operating expenses. These expenses are deducted from the fund before the fund's returns are calculated. There are three types of operating expenses:
Management fees - also called advisory fees, pay the fund's investment advisor for portfolio management. For a given fund, these fees are the same regardless of which share class you choose.
Distribution and/or Service (12b-1) fees - named after the SEC's rule permitting service fees, 12b-1 fees may be used to provide compensation to financial professionals that sell the fund and provide services to fund shareholders. These fees may also be used to cover marketing and advertising expenditures. These fees vary across share classes. Class A, Class B, Class C and Class R shares of the Munder Funds are subject to 12b-1 fees.
Other Expenses - also called administrative expenses, are charged to a fund to cover all other expenses associated with operating a fund, including auditing, daily pricing of fund securities, record keeping and legal expenses. For each Munder Fund, these fees are the same regardless of which share class you choose.
The following information is provided for investors in Class A, Class B and Class C shares. Other share classes may be more appropriate if you are eligible to purchase them. Please talk to your financial advisor or read the applicable fund prospectus to determine all of your options.
An investor should consider a Fund's investment objectives, risks, and charges
and expenses carefully before investing or sending money. This and other important information about the
investment company can be found in the Fund's prospectus. To obtain a prospectus, please click
here. Please read the prospectus carefully before investing.
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Class A Shares or Front-end Load Shares
- Sales charge is paid up front
- Lower annual expenses than Class B and Class C shares
How the Class A load works: The front-end load fee is a percent of the total investment. If you had a 5.5% load on a $5,000 investment, $275 will go toward sales commission and $4,725 will be invested. When you redeem your shares, no additional load will be charged.
May be most appropriate for investors who:
- Plan to hold their investment for a long period of time
- Prefer a sales charge up front in order to avoid the higher total annual operating fees associated with other type of loads
- Tend to make large purchases ($25,000 or more) and want to take advantage of quantity discounts known as breakpoints
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Class B Shares or Back-end Load Shares
(Generally Available Only to Existing Shareholders)
- Sales charge is deferred until you sell your shares
- Higher total annual operating expenses than Class A shares for the first eight years
- A contingent deferred sales charge or CDSC, is paid on shares sold within six years of purchase
- No CDSC applies after 6 years
- After approximately eight years, Class B shares are automatically converted to Class A, which reduces ongoing expenses
How the Class B load works: No sales charges are incurred when you first buy shares of the fund. Assuming you invest $5,000 in Class B shares, with a 5% back-end load, if you redeem your shares within one year, you will either pay 5% of your redemption proceeds or $250 to cover the CDSC, whichever is less. The longer you hold the shares the lower the CDSC will be. If you hold your shares for approximately six years, you will not pay any CDSC. After eight years, your Class B shares will convert into Class A and you will not incur any sales charges at this time.
May be most appropriate for investors who:
- Plan to hold their investment for a long period of time
- Want to put all of the initial investment to work right away
- Are willing to pay higher annual fees in exchange for no up-front sales charge
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Munder Class C Shares or Level Load Shares
- No sales charge if you hold your shares for at least one year
- A 1% contingent deferred sales charge (CDSC) is paid if you redeem the shares within one year
- Higher ongoing total annual operating expenses than Class A shares
- Class C shares do not convert into Class A shares
How the Class C load works: Assuming you invest $5,000 and redeem your shares within one year, you will either pay 1% of your redemption proceeds or $50 to cover the CDSC, whichever is less. If you hold Class C shares for more than one year there is no sales charge.
May be most appropriate for investors who:
- May not hold their investment for a long time
- Want to put all of their initial investment to work right away
- Are willing to pay higher annual fees in exchange for no up-front sales charge
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An investor should consider a Fund's investment objectives, risks, and charges
and expenses carefully before investing or sending money. This and other important information about the
investment company can be found in the Fund's prospectus. To obtain a prospectus, please click
here. Please read the prospectus carefully before investing.
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