BizTerm Definition
Load fund
Full Definition

A mutual fund with shares sold at a price including a sales charge--typically 4 % to 8% of the net amount indicated. Some "no-load" funds have distribution fees permitted by article 12b1 of the Investment Company Act; these are typically 0.25%. A "true no-load" fund has neither a sales charge not 12b1 fee. A load implies that the fund purchaser receives some investment advice or other service worthy of the charge.

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