reports that Strong Funds
has filed papers with the SEC to abandon plans to implement a 25 basis point
12b-1 fee for 12 of its no-load funds, as it had announced in early March.
The Menomonee Falls, Wisconsin company had previously concentrated its efforts on the direct sales channel, but on March 2 had said that it would be distributing 12 of its funds through brokers, compensating them with the 12b-1 fees.
The Street.com further reports that a Strong spokesperson said the company is working on an alternative strategy to compensate advisors and that this plan would be revealed in the next six months.
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