Class B Shares
With Class B shares, you pay no initial sales charge, but the Fund pays a
distribution and service fee at the annual rate of 1.00% of average net assets.
As a result, the annual expenses for Class B shares are somewhat higher compared
to Class A shares, which pay a .25% distribution and service fee. After eight
years, Class B shares automatically convert to Class A, which has the effect of
lowering the annual expenses from the ninth year on.
Class B shares have a contingent deferred sales charge that declines over the
years you own shares, and disappears completely after six years of ownership.
For any shares you sell within those six years, you may be charged at the
following rates based on the lesser of the redemption price or purchase price:
Year After You Bought Shares Contingent Deferred Sales Charge
First Year 5.00%
Second Year 4.00%
Third or Fourth Year 3.00%
Fifth Year 2.00%
Sixth Year 1.00%
