Wal-Mart conversion fee plan

Wal-Mart is keeping the trail commission from those former Asda shareholders who choose to convert their loan notes to holdings in Fleming funds. These shareholders, who received loan notes following Wal-Mart's acquisition of Asda, are being offered the chance to exchange their notes for equity investment into Fleming Managed Growth investment trust or S&P Premier Equity Growth. The normal annual management charge is applicable to the transferred holdings. For the investment trust it is 0.3% and 1.5% for the unit trust. Wal-Mart collects any renewal commission which would normally be pai...