Barnett Banks is expanding its Emerald Funds family to include value and international stock portfolios.
The funds, which await clearance from the Securities and Exchange Commission, would boost the Emerald Funds to 14 portfolios. They had $3.7 billion in assets as of Sept. 30, according to a spokeswoman for Barnett.
Barnett, based in Jacksonville, Fla., markets the Emerald Funds and 225 other fund families through its brokerage unit, Barnett Securities, and through Barnett Trust Co.
Investors in the new funds can pay an upfront sales fee of 4.5% of assets, or put off payment of sales commissions until after they've sold their shares. And commissions can be side-stepped altogether if shares are held at least six years.
All investors, however, will have to pay annual service fees, known as 12b-1 fees, equal to 0.25% of assets on retail shares, or 1% of assets for shares sold through the trust department.