Back-end loan 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 designated 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 CDSC. The New York Times Financial Glossary

Financial and business terms. 2012.

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