Definition of load fund

Mutual fund, pension fund, managed savings scheme, etc. that charges its investors a sales or redemption fee (a load). The sales charge, paid to the broker or institution marketing the fund, may be incurred at the initial stage of investment (front-end load), or through the whole life of the investment (level load). Some funds charge fees for withdrawal of assets (back-end load). Others charge no sales or redemption fee at all (no-load fund). Also see management fee.

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