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Rating:Strong to Abandon 12b-1 Plan Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, May 22, 2000

Strong to Abandon 12b-1 Plan

Reported by Jason Shank

TheStreet.com reports that Strong Funds has filed papers with the SEC to abandon plans to implement a 25 basis point
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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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