"It was a strategy we wanted to try, but based on the limited appetite for this type of access, we didnt see a reason to continue distributing them in this manner," he said.
The funds will still be available through the firms network of advisors, which includes
In February 2000, the firm announced it would begin selling its funds directly to retail investors through the
Although GE contacted its distributors to inform them of its plans to sell funds direct, the move raised some concerns among advisors, Benedict said. (See MFMN 8/28/2000). Those concerns centered on whether customers would want to buy a more expensive version of a fund from an advisor when they could just as easily purchase a no-load version online, he said at the time.
GE Financial has $2.4 billion in retail assets and $119 billion in institutional assets, Benedict said.
