LOAD FUND
\lˈə͡ʊd fˈʌnd], \lˈəʊd fˈʌnd], \l_ˈəʊ_d f_ˈʌ_n_d]\
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Sales commission, the load, on a mutual fund. It covers administrative and advisory charges. Front-end load: At the time of purchase of shares (units), the sales commission is payable. Backend load: sales commission is payable at the time of redemption or sale of shares. No-load fund: no fee; no advice.
By Henry Campbell Black
