Load Fund: Some mutual funds charge a load, or sales commission, when you buy or sell shares or, in some cases, each year you own the fund. The charge is generally figured as a percentage of your investment amount. Most load funds are sold by brokers or other investment professionals. The sales charge compensates them for their time. In contrast, no-load funds, which don't have sales charges but may levy other fees, are usually sold directly to the public by the investment company that offers the fund. Some companies offer both load and no-load versions of the same fund.

 

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Load Fund: Some mutual funds charge a load, or sales commission, when you buy or sell shares or, in some cases, each year you own the fund. The charge is generally figured as a percentage of your inves . . . View Full Definition

Level Load: Some load mutual funds impose a recurring sales charge, called a level load, each year you own the fund rather than a sales charge to buy or sell shares. The level-load rate is generally low . . . View Full Definition

Back-End Load Fund: A mutual fund that charges investors a fee to sell (redeem) shares, often ranging from 4% to 6%. Some back-end load funds impose a full commission if the shares are redeemed within a designa . . . View Full Definition

Fund Family: A fund family, or family of funds, is a group of mutual funds controlled by a single investment company, bank, or other financial institution. The various funds within the family have differ . . . View Full Definition