27 Are there any mutual funds that don't require a large purchase?
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This article is from the FAQ, by with numerous contributions by others.
27 Are there any mutual funds that don't require a large purchase?
Contributed by David Snowball (spsnowball@augustana.edu)
No-Load Equity or Balanced Funds with low purchase or low AIP,
based on Morningstar No-Load Funds through 6/96, updated as of
8/5/1996
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(Thanks to Barb Jensen, Tracy Monaghan and Ed Bernstein for passing
along corrections, leads and additions.)
Telephone numbers for fund companies are generally available in
Barron's, the Sunday New York Times and (I believe) the Wall Street
Journal. In addition, the on-line fund profiles through
Networth include addresses and phone numbers.
How to read it:
Fund Category
Fund Name, Signal of Morningstar 4- or 5-star Funds, Minimum
Investment and/or Min. w/Automatic Investment ($100A),
Miscellaneous Info
So, Bridgeway's minimum is $100 if you agree to invest a set amount
each month; that's the $100A. Its one-time investment minimum
($1000) is too high for this list, so it's not mentioned. If you go
down to the Growth Fund category, you'll see Berger 101: you can
start with a $500 one-time investment or a $50 investment if you're
willing to contribute monthly: $500/$50A.
Aggressive Growth Funds
Bridgeway Aggressive Gro., $100A - in less than 15 states
Dreyfus Aggressive Gro., $100A
Founders Special, $50A
Invesco Dynamics, ****, $50A
Strong Discovery, ****, $50A
Twentieth Century Ultra, ****, $50A
USAA Aggressive Growth, $50A
Value Line Growth Investors, $40A
Growth Funds
Amana Trust Growth, $100 (invests on Islamic principles)
Babson Growth, $500
Bayfunds Equity, $500
Beacon Hill Mutual Growth, $100
Berger One Hundred, ****, $500/$50A
Bramwell Growth, $50A
Capstone Growth, $200
Charter Cap Blue Chip, $50
Fairport Midwest Growth, ****, $250
Fidelity Retirement Growth, ****, $500
First Mutual Fund, $250
Founders Growth, *****, $50A
Key Funds SBSF Capital Growth, $500
Legg Mason Value, ****, $50A
Lindner Growth, ****, $100A
Marshall Mid-Cap Stock, $50A
Montag & Caldwell Growth, $50
Neuberger & Berman Focus, ****, $50A
Neuberger & Berman Partners, ****, $50A
Nicholas, ****, $500/$50A
Rockwood Growth, $100A
Safeco Growth, $100A
Safeco Northwest, $100A
Schroder U.S. Equity, $500
Scudder Value, ****, $50A
Seafirst Retirement Blue Chip, ****, $500
Stein Roe Young Investor, $100A
Strong Growth, $50A
Strong Opportunity, *****, $50A
Strong Schafer Value, ****, $50A
T. Rowe Price Blue Growth, $50A
T. Rowe Price Growth Stock, ****, $50A
T. Rowe Price Mid-Cap Growth, *****, $50A
T. Rowe Price New America Growth, ****, $50A
T. Rowe Price Spectrum Growth, ****, $50A
USAA Growth, ****, $50A
Value Line, ****, $40A
Westcore Midco Growth, $50A
Growth & Income or Equity Income Funds
Aetna Growth & Inc. Sel., $50A
Amana Income Fund, $100 (invests on Islamic precepts)
Berger Growth & Income, $500 (formerly Berger 101)
Chicago Trust Growth and Income, $50
Fairport Funds Growth & Income, $250
Key Funds SBSF, $500
Safeco Equity, $100A
Safeco Income, $100A
Strong Total Return, $250
Small Cap Funds
Berger Small Company Growth, $500/$50A
Bridgeway Ultra-Small Co., $100A - in 15 states
Fasciano, ****, $50A
Founders Discovery, ****, $50A
Founders Frontier, ****, $50A
Fremont U.S. Micro-cap, $50A
Heartland Small Cap Contrarian, $50A
Invesco Small Company, $50A
Neuberger & Berman Genesis, ****, $50A
Pathfinder Fund, no minimum/$25A - in about 40 states
20th Century Giftrust, *****, $500/$50A
T. Rowe Price New Horizons, ****, $50A - closed exc 401k/403b
Asset Allocation and Balanced Funds
Chicago Trust Asset Allocation, $50
Montag & Caldwell Balanced, $50
Pax World Fund, $250
Strong Asset Allocation, $250
International and Worldwide Funds
AARP Global Growth, $500
Artisan International, $50A
Babson-Stewart Ivory International, $100A
Capstone New Zealand, $200
Capstone Nikko Japan, $200
Founders Passport, $50A
Founders Worldwide, $50A
Invesco International Growth, $50A
Preferred International, $50A
Scudder Global, $50A
Scudder Global Discovery, $50A
Scudder International, $50A
Strong International, $50A
20th Century Int'l Equity, $50A
Specialty Funds
Capstone Medical Research, $200/$25A
Midas Fund, $500
Special Notes About Fund Families
GE and State Farm both sponsor low-minimum funds which are
restricted to their employees and retirees
Special Notes About Automatic Investing Plans
All T. Rowe Price funds have a $50/month AIP minimum
Special Notes About Individual Retirement Accounts
Hundreds of funds are available to IRA investors at low
minimums. Most IRAs charge a custodial fee: a flat amount
paid each year. That charge is either per investor or for
each fund you own. Most funds stop charging that fee when
your account reaches a certain threshold.
The list below gives you: family name, minimum to open an
IRA/minimum with an automatic investment plan if it's
different, charge per fund or per investor (SSN stands for
Social Security Number), maximum charge you can pay in a year,
and the point at which the charge is waived.
A few funds have exceptions to the rules. For example,
Fidelity does not waive fees for Magellan or Select Funds and
Twentieth Century has a $10,000 minimum for International
Emerging Growth.
AARP (through Scudder), $250 - no fee
Benham, $1000 - no fee
Fremont, $1000/0A - no fee
Harbor, $500 - no fee
Scudder, $500 - no fee
Stein Roe, $500 - no fee
USAA, $250 - no fee
Acorn, $200 - $5 one time fee plus $10/fund, no cap, no waiver
Babson, $250 - $10/SSN, no waiver
Dreyfus, $750/100A - $10/fund, $25 cap, $5000
Fidelity, $500 - $12/fund (waived for AIP), $60 cap, $2500
Founders, $500/50A - $10/SSN, $5000
Invesco, $250/50A - $10/SSN, no waiver
Janus, $500 - $12/fund, $24 cap, no waiver
Kaufmann Fund, $500 - $12/year, 0.2% redemption fee, $20,000
Lindner, $250 - $10/fund, no cap, no waiver
Loomis-Sayles, $250 - $10/fund, $30 cap, $25,000
Neuberger & Berman, $250/100A - $12/SSN, $10,000
Oakmark, $1000 - $5 one-time, $10/fund, no cap, no waiver
T. Rowe Price, $1000/50A - $10/fund, no cap, $5000
Royce, $500 - $12/SSN, no waiver
Safeco, $250/100A - $5/fund, no cap, waiver under discussion
Schwab, $500-1000 - $29/SSN, $10,000
Strong, $250/0A - $10/fund, $30 cap, $25,000
20th Century, no minimum - $10/fund, $30 cap, $10,000
Van Wagoner, $500 - $15/fund, no cap, no waiver
Vanguard, $1000 - $10/fund, no cap, $25,000
Warburg-Pincus, $500 - $10/SSN, no waiver
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