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Article: E*TRADE Securities Plans to Rebate Mutual Fund 12B-1 and Shareholder Service Agreement Fees to Investors.
- Article from:
- PR Newswire
- Article date:
- July 16, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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E*TRADE Group, Inc. today announced that E*TRADE Securities plans to rebate -- to its mutual fund shareholder customers -- 50 percent of the dollar amount it collects via the 12b-1 and Shareholder Service Agreement (SSA) fees from mutual fund companies for distributing and servicing their respective funds.
The Company's goal for this project is to increase overall earnings for mutual fund investors who hold their funds at E*TRADE. This plan is aimed at enhancing the appeal of mutual fund investing and potentially increasing the number and average asset size of mutual fund accounts at E*TRADE Securities.
"The E*TRADE FINANCIAL infrastructure continues to ...