Can someone please explain to me the purpose that all these different share classes serve?
I’m building a proposal for an advisor, and I’m typing in “PIMCO INTERNATIONAL” into my companies security finder, and it returns like a zillion different share classes.
Makes no sense. Then to make it even more compoundingly irritating, the A share class says it has a minimum of $1,000.00 and the Instl share class has a $1,000,000.00 minimum ----- but in all reality, those minimums are applied at the BD level, so this individual account, despite it being a million dollars, is going to have no problem buying $50k of this mutual fund (the instl class).
What’s the point man? If I was running the SEC I would put all this crap on blast and make it so that no matter who you are, there’s only one share class listed. Just be rid of it.
Unless I’m missing something here??
PS: If any of you work for PIMCO, maybe this thread should make you want to send a postcard or gift basket? Please DM me for my address. Tanks.