New Braunfels Herald Zeitung (Newspaper) - March 1, 1987, New Braunfels, Texas
Commerce & Industry
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Sunday, March 1,1987Hoffmann new Grosse Opa
The Wurst fest Association has selected Carroll Hoffmann to serve as “Grosse Opa” for the 1987 Wurstfest This honorary title, meaning “Big Grandaddy” is bestowed upon a member each year for his loyalty, dedication and willing participation toward making Wurstfest a successful community event.
The position is one of fun and frolic, assigned the responsibility of demonstrating “Gemuetlichkeit,” which means fun and fellowship — German style.
The Wurstfest Board of Directors gave unanimous approval to the selection of Hoffmann as Grosse Opa at the February meeting, according to Clinton Brandt, president of the Wurstfest Association Hoffmann is a native of New Braunfels and has been an
active part of the Wurstfest Association since 1970
He has served as chairman of numerous festival and operating committees, was elected to the board of directors for the first time in 1979 and served as president of the organization in 1983. Hoffmnn is president of Hoffmann, Mund and Associates, Inc., and has been recognized by the insurance industry and by the local community for his many accomplishments and contributions.
The Wurstfest Association is a non-profit corporation designed to promote local commerce, especially through tourism and to preseve the community’s heritage. Dates for this year's Wurstfest are Oct. 30 through Nov 8.
For more information, write Wurstfest, P O Box 310309, New Braunfels. Texas 78131-0309 or call 625-9167
Mutual fund fees/ charges
By E D JONES H. CO Financial Planners and Managers
Mutual funds should be selected on the basis of investment objective. risk and consistency of the fund's management success If these factors are diligently considered, the cost of acquiring fund shares should be insignificant
However if several funds with similar characteristics and per formance are being considered, the cost of acquisition could be the deter mining factor in your decision It s important to recognize and understand various charges and costs associated w ith all funds
Let s begin w ith management The managers of all mutual funds are paid an annual fee A mutual fund is a corporation whose only business is to manage money by continually buy mg and selling securities Like any business, there is a cost of operation
There's rent to pay. employee salaries, professional services, office supplies and so on the normal costs of doing business This cost is charg ed to the fund's shareholders as a management fee it’s shown in the financial information of the fund s prospectus as a percentage of the average net assets managed by the fund
A rule of thumb is the management fee should not exceed one half of I percent annually This means on a $10,000 investment you pay only $ju a year to have your investment prch fessionally managed Generally, the larger the fund. the smaller the percentage should fit* For example. a single fund with Stun million in assets would generate $500,(MW an
nually by charging a one half of I percent management fee
This may initially appear as a lot of money, but after reasonable costs of doing business today there would be little left for salaries of competent research analysts, portfolio managers and staff, not to mention a reasonable profit for the fund
If this same fund managed $1 billion dollars in assets and there were funds in the family bringing the total managed assets to $10 billion or more, you can see that a reasonable management fee would bring more than $50 million to the fund annually
With this, top analysts, portfolio managers customer services and more can be offered at a very
reasonable cost to shareholders
I stress the management fee because it's an expense which is paid each year In a special 1986 edition of Money Magazine Your IKA' from 154 major funds surveyed, the
management fee ranged from a high of 3.47 percent annually, a 1 no-load" fund, to a low of o 44 percent, a “load” fund
Translated into your dollars, that means on a $ lo.duo investment your cost would be $347 each year on the * no load” fund compared to $44 on the “load'’ fund Remember, all this information is in the prospectus if you know where to find it
Funds with high management fees seldom make an issue of explaining this Its up to you to find it
Fees and charges are a normal part of doing business Managment is entitled to reasonable profit on in vestment Don't be mislead into thinking you re receiving a service at no cost Understand a management fee must be and is. charged on all mutual funds Know where to look for that fee in the prospectus and make certain the results you get merit the fee you pay
SARAH DUK! reports on our schools daily in the
Darryl G. Hoag
Certified Public Accountant
New Braunfels National Bank Building BKK) North Walnut, Suite 202 629-1922
Computerized Bookkeeping, Financial Planning, \udit and Management Advisory Services
Cut 35% off your
Based un current rates a SVM Bi-Wtrkiv Moues Saver Mortgage could save von up to W\, iii interest It also allows von to build equity much laster than is possible with a fixed rate >n year mortgagt lor more intoriiiahon * ail i»2vu) S i and ash lor the Moues Saver Mortgage Sud hum Because when von consider the savings, now s the lune lo buysasaa))
Branch manager celebrates anniversary
Jim Moore has been managing Commercial Credit Corporation's New Braunfels office at 351 luanda Street for 13 years he began his career with the company in 1973 in the San Antonio area as an assistant manager
“I like the way Commercial Credit does business and I think our customers are satisfied with the hassle-free financial services that we provide, he said
Before assuming his duties with Commercial Credit. Moore worked for Blazer Finance for 16 years in a managerial capacity
Women in Construction
The San Antonio Chapter of the Na tional Association of Women in Con struction will have its next meeting on Wednesday at the Kamada Inn at IHI NK loop 4lo The guest speaker is Daryl Railes of Hoers Program Management The topic will in* the Dos Kios Wastewater Treatment Plant The cost of the meal is $o 50 For further information call Donna Haggard at 655-6703
Child Development Center opens
New Braunfels Child l>evelopment Center has made plans to move to a new location after remodeling th** building currently being used bs New Braunfels Christian Academy at 376 Comal Ave
Work will begin June 5 and the center max open July I
Owner Janeda Gray says she looks forward to providing New Braunfels with another learning center and will otter Montessori
techniques, along with computer instruction. “A child will learn through a rich environment that considers the total development and individual's needs and interests.” she said “We offer programs for
children 12 months through 6 years after school and summer program We will also offer half days and full days."
For information, call 625-1715 or come by 193 S. Liberty
Get an investment education without going to school.
Edward l>. Jones A Co. now’offers the use of UZEE videotapes for home viewing. They re also great for club meetings, civic groups and adult education classes Educational topics include:
• Investment Ideas • Financial Planning • Economic Information To borrow your copy, stop by
STAN CUNNINGHAM 1000 N Walnut N B N B Building North 629 0055
Edward D. .Jones & Co.
WEDDINGS? CLUB NOTES?
Call WANDA LASATER. Lifestyles Editor at 625 9145 Your daily hometown newspaper is the
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