Phoenix Investment Partners of Hartford, Conn. is raising the front-end sales charge on its equity and balanced mutual funds in seven proprietary fund families as of April 3. The change, which will standardize the maximum sales fees charged on class A shares of Phoenix' various mutual fund groups, was increased to 5.75 percent from the current 4.75 percent charged on most of its mutual funds. That rate applies to all fund purchases of less than $50,000.
The front-end sales charges applicable to two other levels of assets will also rise, but not as dramatically. Purchases between $50,00 and $99,999 rise to 4.75 percent from 4.50 percent. Purchases between $100,000 and $249,000 rise to 3.75 percent from 3.50 percent. The sales charge on purchases between $250,000 and $499,999 will decrease to 2.75 percent from 3.00 percent. The sales charge for purchases between $500,000 and $999,999 remains unchanged at 2.00 percent. There are no sales charges at higher asset levels.