Commerce tells SEC of plan to offer funds.

Commerce Bank, a $2.1 billion-asset institution based in Kansas City, has registered with the Securities and Exchange Commission to launch a family of mutual funds.

The Commerce Funds consist of short-term government bond, high-quality bond, balanced, growth, and aggressive-growth portfolios.

The bank will also have an international equity fund, which will be subadvised by Rowe Price-Fleming International. The bank will be the sole adviser on its other funds.

Goldman Sachs Asset Management will serve as the funds' administrator and distributor. State Street Bank and Trust will be the custodian and transfer agent.

The Commerce Funds will carry a 3.5% load and have management fees that range from .96% to 1.78%. The minimum investment is $2,000.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER