Sterling Capital Equity Index Fund tweaks CDSC policy for class A

By Toni Weeks

San Diego, Feb. 17 - The Sterling Capital Equity Index Fund announced it has modified its Contingent Deferred Sales Charge policy for some class A share redemptions, according to a 497 filing with the Securities and Exchange Commission.

A CDSC of up to 1% of the purchase price will be charged to some class A shareholders who received a sales charge waiver and then redeem their shares within two years after purchase. Those shareholders now include only shareholders who purchased $1 million or more and shareholders who made purchases before Feb. 17 and are employees of Sterling Capital Funds, BB&T and its affiliates.

Previously, the CDSC also applied to shareholders who purchased shares with proceeds from redemptions from another mutual fund complex within 60 days of redemption if a sales charge was paid on such shares, as well as to shareholders who purchased shares online at Sterling Capital's website.

The filing also noted that purchases made by shareholders who are employees of Sterling Capital Funds, BB&T and its affiliates are not subject to the CDSC if those shares are purchased after Feb. 17.

The CDSC will be based on the lower of the cost of the shares or their net asset value at time of redemption.

Charlotte, N.C.-based Sterling Capital Management LLC is the adviser to the fund.

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