Burnham Investors Trust to Re-Open Burnham Financial Services Fund, Class A Shares, on January 3, 2005
December 17 2004 - 12:23PM
PR Newswire (US)
Burnham Investors Trust to Re-Open Burnham Financial Services Fund,
Class A Shares, on January 3, 2005 NEW YORK, Dec. 17
/PRNewswire-FirstCall/ -- Burnham Investors Trust announced today
that Burnham Financial Services Fund, Class A shares, would re-open
to new investors on January 3, 2005. Shares will be available for
purchase through Burnham Securities Inc. (Principal Distributor)
and other broker dealers. Burnham Financial Services Fund invests
primarily in small-capitalization financial service companies and
has been closed to new investors since February 2004. The Burnham
Financial Services Fund is managed by Burnham Asset Management
Corporation. Mendon Capital Advisers Corp. serves as its investment
sub-adviser; its founder and CEO, Anton V. Schutz, is the fund's
Portfolio Manager. The fund is presently rated "five stars" by
Morningstar. "We are looking forward to reopening this popular
fund, and making it available to new investors interested in
participating in the multi-faceted financial services sector,"
stated Jon Burnham, Chairman of Burnham Securities Inc. Mr. Burnham
is Chairman of Burnham Investors Trust and Portfolio Manager of the
Burnham Fund, a large-cap growth fund. Mr. Schutz added, "Our
forecast of moderate growth may lead to a period of excess capital
on banks' balance sheets, which may usher in a period of
accelerating consolidation and renewed share repurchases, both of
which would benefit our shareholders. Burnham Financial Services
Fund specializes in small-cap financial services stocks, mostly
regional banks and thrifts, and we believe that our fund, with its
unique investment focus and discipline, places us in a position to
take advantage of these trends. In addition, we expect that more
savings and loan concerns will go public, and therefore more
investment opportunities will present themselves." The fund's Class
A shares (symbol: BURKX) are offered with a maximum sales charge of
5%. 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 expects to
launch Class C shares later in 2005. 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-years, five years and since inception
(June 7, 1999) periods ended November 30, 2004 of the Burnham
Financial Services Fund's Class A shares were, 14.66%, 24.84%,
28.33%, and 26.19%, respectively. Including the maximum sales
charge (5%) and all fees, performance was 8.92%, 22.72%, 27.02%,
25.01%, 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 for the Burnham Financial Services Fund and current
performance may differ due to market volatility. For more complete
information about the fund including a free prospectus and current
fund performance, please contact Burnham Securities Inc. at
800-874-FUND, or visit the website at http://www.burnhamfunds.com/.
The prospectus contains important information about the fund,
including its management fee, sales charges, and other expenses
which you should consider carefully. 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 the fund's value may fluctuate more than a fund
that invests in a wider range of industries. Because this 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. As of December 17, 2004, the Financial Services
Category contained 109 funds. Shares of the fund are offered by
Burnham Securities Inc., Principal Distributor, 1325 Avenue of the
Americas, New York, NY 10019; 800-874-FUND;
http://www.burnhamfunds.com/. DATASOURCE: Burnham Investors Trust
CONTACT: Debra B. Hyman, Vice President of Burnham Securities Inc.,
+1-212-603-7511 Web site: http://www.burnhamfunds.com/
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