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GE Will Cut 12b-1 Fees, Launch C Shares

The board of trustees of GE Financial Assurance of Stamford, Conn. has approved a plan to cut the 12b-1 fees on its Class A shares from 50 basis points to 25 basis points and to launch Class C shares on all 17 of its funds. If the SEC approves GE's June 25 filing, the fee cut will take effect Sept. 17 and the C shares will be introduced Oct. 1.