Definition 1.
A mutual fund that chargesinvestors a fee to sell (redeem) shares, often ranging from 4% to 6%. Some back-end load funds impose a full commission if theshares are redeemed within a designated length ofg time, such as one year. The commission decreases, the longer the investor holds the shares. The formal name for the back-end load is the contingent deferred sales charge, or C.D.S.C.
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