B shares continue to fall out of favor at mutual fund firms. Last week Legg Mason [see profile] revealed plans to shutter its B shares to both new and existing investors by July 1 (while still keeping the shares open "for incoming exchanges and for dividend reinvestment") [see filing].

Morningstar's Ryan Leggio broke the news in the "Fund Times" column.

The move impacts 38 Legg funds. The fund firm's filing offered no explanation for the shift. 

Edited by: Neil Anderson, Managing Editor


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