Intermediaries are to receive 0.25% less trail commission on 13 M&G funds sold through Cofunds, as the group moves from X to A share classes on the platform. The group currently sells many of its funds using the X share class, which does not feature an initial charge and carries an annual management fee of 1.25%. The X share class pays trail commission of 0.5% and has a decreasing exit penalty. In comparison, the A share class features a 5% initial charge, has no exit penalties, and carries a lower annual management charge of 1% and a lower trail commission of 0.25%. The range of 13 funds...
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