A load fund is a mutual fund that has a commission or sales fee. The load is paid by the fund investor and goes toward compensating a sales intermediary, such as a broker, financial advisor, or investment advisor, for his/her time and knowledge spent helping the investor choose the best fund. When shares are sold, the back-end load is paid; or the back-end load can be paid for as long as the investor holds the fund. The front-end load is paid at the time of purchase (level-load). Load funds and no-load funds, which don't charge a sales commission, are the contrast to load funds.
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