American Funds files for new share class to cut fund expense ratios
F3 shares trim expense ratios by about 37 basis points
In the latest example of the impact of the Department of Labor's fiduciary rule, American Funds has filed with the Securities and Exchange Commission to create a stripped-down mutual fund share class.
The new F3 shares will be free of commission, 12b-1 fees, as well as the sub transfer agency fees that typically go to brokerage platforms.
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Per Investment News. Article written on Oct 21, 2016 @ 4:26 pm by Jeff Benjamin