load fund definition

load fund

Mutual fund (unit trust) that charges a sales commission (load) to cover its administrative and advisory charges. If the sales commission is payable at the time of purchase of shares (units), it is a front-end load, if it is payable at the time of redemption or sale of shares, it is a back-end load. A no-load fund neither charges any such fee nor provides any financial or investment advice.

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