Mutual Fund Companies Loading Up
Scudder adds fees, and American Express dumps no-load funds.
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Mutual-fund sponsors continue to adjust their fee structures in an effort to increase sales opportunities.
Scudder Kemper Investments, for example, announced this week it would add load, or fee, classes, to three of its mutual funds, and American Express (AXP) said it would merge out of existence 15 no-load funds it launched to capitalize on what appeared to be a direct-selling craze just four years ago.
Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.