Short Takes: KeyCorp Adds No-Load Class for S&P Fund

KeyCorp of Cleveland has introduced a special no-load share class for its mutual fund that tracks the Standard & Poor's 500 index.

KeyCorp's "G share" pricing structure pays a broker 25 basis points when the sale occurs and another 25 to 50 basis points annually, depending on whether a fund invests in stocks or bonds, said John Kutz, a director in Key Asset Management's investment products group. KeyCorp offers the share class for seven other funds.

G shares are sold only through McDonald Investments Inc., which is KeyCorp's retail brokerage. But KeyCorp is considering making the class available through third parties, Mr. Kutz said.