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No Load Fund

Mutual Fund offered by an open end investment company that imposes no sales charge (load) on its shareholders. Investors buy shares in no-load funds directly from the fund companies, rather than through a broker as is done in load funds.

Additional Comments:

Many no-load fund families allow switching of assets between stock, bond, and money market funds. The listing of the price of a no-load fund in the newspaper is accompanied by the designation NL. The net asset value, market price and offer prices of this type of fund are exactly the same, since there is no sales charge.

Related Terms:

Sales Load
The sales fee that the buyer pays in order to acquire an asset. ...

Closed-Ended Funds
Closed-ended funds, like their more populous and popular open-ended cousins, are investment companies set up to ...

Open-end Funds
An open-end fund sells shares on a continuous basis. Mutual funds are the most conventional type of ...

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