Choose your own price
Managers offers several pricing structures for a selection of The Managers Funds and the Managers AMG Funds. Each class of shares differs in how sales charges and fund expenses are structured. Four important considerations in choosing a share class are the amount you plan to invest, your investment objectives, the Fund's expenses and charges, and how long you intend to keep the money invested. Managers recommends that you discuss your investment goals and choices with your financial professional in order to determine which share class is right for you. You may also read more detailed information about these share classes in the prospectus.
Class A, B, C & Institutional Class shares
For more information on sales charge reductions and waivers, and available share classes, consult your registered financial professional, the Funds' prospectus, or the Funds' SAI.
Class A shares carry a maximum up-front sales charge of 5.75% of your investment (4.25% for the Managers Fixed Income Fund and Managers High Yield Fund), depending on the amount of your investment. This sales charge declines as you invest more.
To determine the initial sales charge, we add the current NAV of any existing investments in the Managers Family of Funds to the amount of your investment, which could mean a lower sales charge. You may also be eligible for a reduced sales charge if you do the following:
- You may add Managers Funds held by other fiduciaries on your behalf. To obtain this benefit, you must inform us of your ownership of these other funds and request that we calculate your sales charge accordingly when you buy Class A shares. You must also inform your broker-dealer or other financial intermediary of any other investments you own in the Managers Family of Funds.
- You may submit a Letter of Intent to buy more shares. If you agree to invest a definite amount in Class A shares of the Fund over the 13 months following your first purchase, your sales charge will be calculated as if you are purchasing all the shares at one time. You could lower the sales charge still further if you include investments in other funds in the Managers Family of Funds in your Letter of Intent.
*If you acquire or hold $1 million or more of Class A shares of a Fund or across the Managers Family of Funds, either as a lump sum or through the rights of accumulation or letter of intent programs, you can buy Class A shares without an initial sales charge. Unless you exchange Class A shares for Class A shares of another Fund, there is a 1.00% contingent deferred sales charge on any such shares not subject to an initial sales charge that you redeem or exchange within 18 months of purchase. The Distributor may make a payment to financial intermediaries with respect to such shares not subject to an initial sales charge. The commissions are paid at the rate of up to 1.00% of net sales of $1 million or more. The Distributor may withhold these payments with respect to short-term investments.
Class A share purchases of $1 million or more which are not assessed a sales charge at the time of purchase will be charged the equivalent of 1% of the lower of the cost of the shares being redeemed or their NAV at the time of redemption (referred to as a Contingent-Deferred Sales Charge [CDSC]) if you redeem any or all of such Class A shares during the first 18 months after purchase (or exchange for shares of a fund that are not subject to a sales charge). The Distributor may make a payment to financial intermediaries for your cumulative investments of $1 million or more of Class A Shares. These commissions are paid at the rate of up to 1.00% of net sales of $1 million or more. The Distributor may withhold these payments with respect to short-term investments. Please see the Fund's prospectus and SAI for additional information on Class A share sales charges and CDSC fees.
Class B shares do not carry an up-front sales charge, but do require that you pay a "surrender charge" (CDSC) on shares you sell. These charges start at 5.00% of the amount of the purchase or sale, whichever is less, when you redeem shares within one year of purchase. The CDSC charges gradually decline each year thereafter, until reaching zero in the seventh year after your purchase. At the end of the eighth year after your purchase, your Class B shares automatically convert to Class A shares of equal value. This means the shares will have lower ongoing annual expenses from that point forward:
Class C shares do not carry an up-front sales charge, but do require you to pay a CDSC of 1.00% of the amount of purchase or sale, whichever is less, when you sell shares within one year. Class C shares have higher annual operating expenses than Class B shares. Please read the prospectus for detailed information on Class C shares as they pertain to each specific Fund.
Institutional Class shares have no up-front sales charges or CDSC, nor do they pay annual 12b-1 distribution or shareholder servicing fees. Institutional Class shares are available to:
- Individuals whose investments in the Funds exceed $2,500,000.00,
- Tax-qualified retirement plans with at least $10 million to invest or 250 eligible employees, banks and insurance companies investing for their own accounts,
- Other investment companies not affiliated with the Investment Manager,
- The Investment Manager's tax-qualified retirement plans or qualified financial intermediaries who have a contract with the Distributor,
- Endowments, foundations and other charitable organizations, and
- Wrap-fee accounts or asset allocation programs in which the shareholder pays an asset-based service fee.
Waivers differ for each of the Funds, so please read the prospectus for detailed information on your Fund.
Comparing Fees and Expenses for Share Classes with Sales Charges
Other Class shares
Institutional Class and Managers Class Shares - Managers Special Equity Fund only
Both classes of the Managers Special Equity Fund are available to investors, but each share class is subject to a different minimum initial investment, and different distribution and shareholder servicing arrangements, which may result in differences in the expenses borne indirectly by the shareholders of each class, as well as the returns realized by such shareholders.
Institutional and Premier Class Shares - Managers AMG TimesSquare Mid Cap Growth Fund and Managers AMG TimesSquare Small Cap Growth Fund only
The Institutional and Premier Class shares for the Managers AMG TimesSquare Mid Cap Growth Fund and Managers AMG TimesSquare Small Cap Growth Fund differ in their annual operating expenses and minimum investments.
†The Managers AMG TimesSquare Small Cap Growth Fund is closed to new investors. Please see each Fund's prospectus for additional information.
Disclosure
Investors should carefully consider the fund's investment objectives, risks, charges, and expenses before investing. For this and other information, please call 800.835.3879 or download a free prospectus. Read it carefully before investing or sending money.
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