First Investors gives details on new investment-grade bond fund

By Toni Weeks

San Luis Obispo, Calif., May 15 - First Investors Income Funds released details on its new investment-grade, fixed-income fund, the Limited Duration High Quality Bond Fund, according to an N-1A filing with the Securities and Exchange Commission. The fund is expected to launch next week.

The fund seeks current income consistent with low volatility of principal. Under normal circumstances, it will invest at least 80% of its net assets, plus any borrowings for investment purposes, in investment-grade bonds and other investment-grade fixed-income securities.

Clark D. Wagner, Rajeev Sharma and Rodwell Chadehumbe will be the portfolio managers.

The fund offers class A, advisor class and institutional class shares. The ticker symbols are FLDKX, FLDLX and FLDMX, respectively.

The shareholder fees consist of a 5.75% maximum sales load and 1% maximum deferred sales load on class A shares. Including management fees of 0.6%, total annual fund operating expenses are expected to be 1.05% for class A, 0.75% for advisor class and 0.6% for institutional class shares.

New York-based First Investors Management Co., Inc. will serve as the fund's investment adviser.

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