American Data Services of Hauppauge, N.Y., a shareholder services company, announced that it has started the Imperial Bank Fund, which will invest in the stocks of banking institutions and other financial services firms. The fund will be managed by David Allaire and Michael Laliberte of the Retirement Planning Company of Providence, R.I. The fund will be 65 percent invested in bank stocks and 35 percent in other financial firms like brokerages, lending institutions and insurance companies. It will carry a 4.75 percent front-end load and a 12b-1 fee of 0.5 percent. Minimum initial investment is $2,000, $500 for IRAs.
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