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Mutual Funds

Revenue Sharing & Fund Access

Citigroup Global Markets Inc. ("CGMI"), offers clients a large selection of mutual funds. From each fund family offered, CGMI seeks to collect a mutual fund support fee, or what has come to be called a revenue-sharing payment. These revenue-sharing payments are in addition to the sales charges, annual distribution and service fees (referred to as "12b-1 fees"), applicable redemption fees and deferred sales charges, and other fees and expenses disclosed in the fund's prospectus fee table. Revenue-sharing payments are paid out of the investment adviser's or other fund affiliate's revenues or profits and not from the fund's assets.

Currently, CGMI is charging fund families revenue sharing fees of up to a maximum per fund family of: (a) 0.10% per year ($10 per $10,000) on fixed income fund assets held by clients, and (b) 0.13% per year ($13 per $10,000) on equity, balanced and offshore fund assets held by clients, subject to a minimum charge of up to $20,000 per year per fund family.

Representatives of approved providers—whether they remit revenue-sharing payment or not—are provided access to branch offices and advisors for education, marketing and other promotional efforts subject to the discretion of our managers. Although all approved providers are provided with such access, some providers devote more staff and resources to these activities and therefore may have enhanced opportunities to promote their products to CGMI advisors. This, in turn, could lead to CGMI advisors to focus on those funds when recommending mutual fund investments to CGMI clients instead of on funds from those fund families that do not commit similar resources to educational marketing and other promotional efforts. It is important to note that CGMI advisors receive absolutely no additional compensation as a result of any revenue-sharing payments received by CGMI.

Revenue-Sharing Fund Families

  • Legg Mason
  • Oppenheimer
  • Franklin Templeton
  • Franklin Templeton Offshore
  • Alliance Bernstein Offshore
  • Putnam
  • Fidelity Advisors
  • Alliance Bernstein
  • Schroeder Offshore
  • Dreyfus
  • DWS
  • Lord Abbett
  • Federated Securities
  • Eaton Vance
  • Nuveen Funds
  • Columbia Management
  • Blackrock
  • Pioneer Funds
  • Gabelli Funds
  • Prudential
  • IVY Funds
  • Investec Offshore
  • JP Morgan
  • Goldman Sachs
  • Delaware Investments
  • John Hancock
  • Mainstay
  • Principal Funds
  • Virtus
  • Transamerica
  • Janus Funds
  • IVA
  • Sentinel Investments
  • Henderson
  • Calvert Group
  • Rydex Distributors
  • Munder Funds
  • Allianz
  • Olstein Financial
  • Forward Funds

Compensation & Expense Reimbursement We Receive from Funds

CGMI receives expense reimbursement from funds, their affiliates or other service providers for various sales meetings, seminars, training programs and conferences held in the normal course of business. Such reimbursements may be viewed as form of revenue sharing. While funds independently decide what they will spend on these activities, some funds may base decisions on how they allocate these promotional budgets on prior sales and asset levels. CGMI does not control fund companies' determinations of how to allocate their budgets in this regard. CGMI and other Citi affiliates also receive from certain funds compensation in the form of commissions and other fees for providing traditional brokerage services including related research and advisory support, and for purposes and sales of securities for fund portfolios. CGMI and other Citi affiliates also receive other compensation from certain funds for financial services performed for the benefit of such funds. CGMI prohibits linking the determination of the amount of brokerage commissions and service fees charged to a fund to the aggregate values of its overall fund-share sales, client holdings of the fund or to offset the revenue sharing or expense reimbursement and administrative fees. Such commissions or other service fees are not paid to, or shared with, CGMI's mutual fund business unit.

For More Information

For additional information on a particular fund's payment and compensation practices, please refer to the fund's Prospectus and Statement of Additional Information. For further information regarding the fund fees and expenses borne by you and how your Financial Advisor is compensated when you purchase and hold mutual fund shares, please refer to "Mutual Fund Share Classes and Compensation" (available at the hyperlink above), call toll-free 1 (855) 931-5845 or call your Financial Advisor.

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