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Back-end load |
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Back-end load. Some mutual funds impose a back-end load, or a contingent deferred sales charge, if you sell shares in the fund during the first six or seven years after you purchase them. The charge is a percentage of the value of the assets you're selling. The percentage typically declines each year the charge applies and then is dropped. However, the annual asset-based management fee is higher on back-end load funds, also known as Class B shares, than on front-end load funds, where you pay the sales charge at the time you purchase. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| 5% of your invested savings, and perhaps you've even grasped the difference between a front-end and back-end load down cold (see "Nothing Comes Free," Moneywise, May 1998). They come in two varieties: (1) a front-end load, assessed as a percentage of the contribution, and (2) a back-end load, commonly referred to as surrender charges, assessed as a percentage of the amount withdrawn. Most back-end load fees apply if a fund holder sells shares within five years. |
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