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The risk spectrum above shows SM&R's assessment of the risk/reward
relationship of SM&R Funds relative to one another and should not
be used to compare the funds to other mutual funds or other types
of investments.
Risk is
defined as volatility of returns. A high-risk investment policy
provides an opportunity to achieve greater returns (rewards) than
low-risk investment policy. A high-risk policy also creates the
possibility of achieving lower returns than a low-risk investment
policy, so it is said that a high-risk policy is more volatile.
You should
consider the investment objectives, risks, and charges and expenses
of the investment company carefully before investing. Please
read the
prospectus,
which contains this and other information about the the investment
company carefully before investing. An investment in mutual
funds is subject to market fluctuations and the possible loss of
principal.
The SM&R Primary and Money Market Funds consist of one class
of shares.
Choosing a Share Class
Some of the SM&R Funds are offered in several different share
classes. Each share class has its own sales charge and distribution
and service (12b-1) fee structure. Each class represents an interest
in the same fund. In addition to choosing an SM&R Fund, you should
select a share class that bets suits your needs.
You should pay close attention to this fee structure when selecting
the class best suited for your needs.
Class A shares:
-
Maximum front-end sales charge of 5.00%. There are several
ways to reduce this sales charge. For complete information,
please see the fund prospectus. For
Sales Charges, Breakpoint Discounts and Purchases of Class A Shares, please
Click Here.
-
Lower annual expenses than Class B shares
-
A deferred sales charge on shares you sell within thirteen
months of purchase.
-
12b-1 fee of 0.25% of average net assets
-
Generally more appropriate for long-term investors
Class B shares:
- No front-end sales charge; all your money goes to work for
you right away
- Higher annual expenses than Class A and Class T.
For Sales Charges, Breakpoint Discounts and Purchases of Class B
Shares, please
Click Here.
- A deferred sales charge on shares you sell within three years
of purchase.
- 12b-1 fee of 0.75% of average net assets
- Automatic conversion to Class A shares after eight years,
thus reducing future annual expenses
- Purchase amounts limited to amounts less than $500,000.
- Generally appropriate for investors who may be averse to an
up-front sales charge and are willing to pay a back-end sales
charge and a higher 12b-1 fee for the first eight years.
Class T shares:
Shares available to Certain Eligible Purchasers (and Shareholders
of the Fund Prior to January 1, 1999.)
- Maximum sales charge of 5.75%. There are several ways to reduce
this sales charge. For complete information, please see the fund
prospectus. For Sales Charges, Breakpoint
Discounts and Purchases of Class T Shares, please
Click Here.
- Lower annual expenses than Class A and Class B shares
- A deferred sales charge on shares you sell within thirteen
months of purchase.
- No 12b-1 fee
- Generally more appropriate for long-term investors
(All classes may not be available in all states.)
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