Deutsche Asset Management's
Scudder unit is reviving extra payouts to advisor selling a select handful of its funds. The firm is the first to offer reallowances since the market began a downward spiral in late summer, according to industry sources.
The move to entice advisors to sell its funds comes as after a seven-week rebound in stock prices that may revive some interest in equity funds.
Scudder is making the bonus payments a selected few of the broker-dealers with which it has selling agreements. The payments add 50 basis points to commissions of advisors selling class B shares and 25 basis points on class C shares for two stock funds (Contrarian and Mid Cap) and two bond funds (Fixed Income and High Yield Tax Free). Advisors must sell the shares between now until the end of January, 2003 to receive the payments.
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