To meet the emerging demand for fee transparency in group retirement plans, Prudential Investments, a unit of Prudential Financial, has launched Q Share class of mutual fund shares that do not charge 12b-1 service fees and have minimal “transfer agency” fees.
“Investors should view the Q Share Class as an opportunity to have a clear accounting of the impact various fees and expenses will have on their accounts by distinguishing between recordkeeping and investment expenses,” said Michael Rosenberg, head of Prudential Investments’ Investment-Only Defined Contribution group.
Eligible plans, including 401(k), 403(b), Keogh, Profit Sharing Pension plans and Simple IRAs, among others, can convert their current holdings in another share class of a Prudential fund to the fund’s Class Q shares.
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