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Burnham Investors Trust Launches 'Burnham Financial Industries
Fund', Managed by Mendon Capital's Anton Schutz
NEW YORK, May 3 /PRNewswire/ -- Burnham Investors Trust announced today that
its new Financial Industries Fund, Classes A and C, became effective with the
new prospectus dated May 1, 2004, and is available for purchase through Burnham
Securities Inc., its principal distributor, and other broker dealers. The
Financial Industries Fund, a sector fund, seeks capital appreciation by
investing at least 80% of its assets in the common stocks of companies that are
in the financial services sector. Unlike the existing Burnham Financial
Services Fund which invests primarily in small-capitalization financial service
companies, this fund will invest primarily in medium to large-capitalization
financial service companies.
The Burnham Financial Industries Fund is managed by Burnham Asset Management
and Mendon Capital serves as its investment subadviser. Mendon Capital's
founder and CEO, Anton V. Schutz, is the fund's Portfolio Manager. Mendon
Capital is presently the investment subadviser of our Burnham Financial
Services Fund, which is rated "Five Stars" by Morningstar, and was a recipient
of the Lipper Leader Award for 2003 and 2004. The Burnham Financial Services
Fund closed to most new investors February 13, 2004.
"We are pleased to offer another vehicle for investors who believe, as we do,
that the diverse financial sector can provide opportunities for investors to
outperform the equity markets in general," stated Jon Burnham, Chairman of
Burnham Investors Trust and Burnham Financial Group.
Added Mr. Schutz, "I look forward to managing a second financial services
mutual fund as I believe that there continues to be much opportunity to make
money in these sectors. Over forty thousand financial services companies
remain in the United States, making it one of the most fragmented industries
and markets in the world and subject to continued consolidation. The size of
the industry alone creates investing and trading opportunities; these companies
have different approaches to taking or managing risk, for better or for worse,
to set themselves apart from the rest of the pack."
The fund's Class A shares are offered with a maximum sales charge of 5%, and
Class C shares are offered subject to a 1% contingent deferred sales charge if
shares are redeemed within one year after purchase. Class A shares are
available at no-load through financial intermediaries (such as registered
investment advisors) and Charles Schwab & Co.'s Mutual Fund Marketplace. The
Fund will be listed on the NASDAQ under BURFX for Class A shares, and BURCX for
Class C shares.
Burnham Investors Trust is committed to providing a high level of service to
all of its clients. The Burnham family of mutual funds includes The Burnham
Fund, Burnham Financial Services Fund, Burnham Financial Industries Fund and
two money market funds.
The average annualized total returns for one-year, three-year and since
inception (June 7, 1999) periods ended March 31, 2004 of the Burnham Financial
Services Fund's Class A shares were 46.64%, 28.02% and 29.10%, respectively.
Including the maximum sales charge (5%) and all fees, performance was 39.31%,
25.85% and 27.74%, respectively. Past performance is no guarantee of future
results. Investment return and value of shares will fluctuate, so that those
shares, when redeemed, may be worth more or less than their original cost. All
returns reflect reinvested dividends, but do not reflect the deduction of taxes
that an investor would pay on distributions or redemptions. Performance is for
the periods indicated and is for the Burnham Financial Services Fund (not the
Burnham Financial Industries Fund) and current performance may differ due to
market volatility. For more complete information about either fund including a
free prospectus and current fund performance, please contact Burnham Securities
Inc. The prospectus contains important information about the funds, including
their management fees, sales charges, and other expenses. Please read the
prospectus carefully before you invest or send money.
Sector funds primarily limit their investments to companies in specific
industries. This type of fund may be susceptible to factors affecting these
industries, and each fund's value may fluctuate more than a fund that invests
in a wider range of industries. Because each fund concentrates its investments
in one sector of the economy (financial services), and it invests in derivative
securities, investors should consider these risks because they may experience
greater volatility than in a fund that invests across several sectors.
Morningstar Inc. is an independent monitor of fund performance and has no
relationship with Burnham Securities Inc. Morningstar rates mutual funds from
one to five stars based on how well they've performed (after adjusting for risk
and accounting for all sales charges) in comparison to similar funds. Within
each Morningstar Category, the top 10% of funds receive five stars, the next
22.5% four stars, the middle 35% three stars, the next 22.5% two stars, and the
bottom 10% receive one star. Funds are rated for up to three time periods --
three-, five-, and 10 years -- and these ratings are combined to produce an
overall rating. Funds with less than three years of history are not rated.
Ratings are objective, based entirely on a mathematical evaluation of past
performance. They're a useful tool for identifying funds worthy of further
research, but shouldn't be considered buy or sell recommendations.
Under no circumstances does information about Lipper Leader funds constitute a
recommendation to buy or sell mutual funds. Lipper Leaders measures past fund
performance, and investors should remember that past performance is no
guarantee of future results. Lipper Leaders status is calculated monthly using
data available at the time of calculation; Lipper undertakes no responsibility
for updating the calculations more frequently than monthly to incorporate more
current data. For more information, please email
Shares of the fund are offered by Burnham Securities Inc., principal
distributor, 1325 Avenue of the Americas, New York, NY 10019; 800-874-FUND;
www.burnhamfunds.com.
DATASOURCE: Burnham Investors Trust
CONTACT: Debra B. Hyman of Burnham Securities, +1-212-603-7511
Web site: http://www.burnhamfunds.com/