NU Online News Service, Jan. 24, 2005, 4:50 p.m. EST
A Chicago financial information company is introducing a new data service.[@@]
The company, Morningstar Inc., has launched the Compliance Data Digest, a Web-based system that gives breakpoint discount information for 240 fund families that sell funds with sales charges.
The database includes information about rights of accumulation, letters of intent and share-class limits, Morningstar says.
Advisors can use the database to comply with federal rules requiring them to consider breakpoint discounts when proposing the purchase of mutual funds that require customers to pay loads, Morningstar says.