The Berger Funds will share some of the wealth Americans will pour into Roth individual retirement accounts this year through an innovative charity program. The Denver-based mutual fund company will donate the first year's custodial fee on any Roth or traditional IRA opened with Berger in 1998 to Covenant House, a national nonprofit organization based in New York and dedicated to helping runaway, abandoned and homeless children.
Jerry Lavin, Berger president, said the program allows Americans the chance to help children in need, while helping themselves with all the advantages of investing in the Roth IRA. Berger Funds will advertise its IRA program heavily in national publications, Mr. Lavin said in a statement, "We hope that one result of this campaign will be an increased awareness of Covenant House and the important work they are doing nationwide."
The annual custodial fee for Berger's IRA accounts is $12.