Class B shares do not charge a front-end salesloadlike A-shares but are characterized by aback-end sales loadstructure, also known as acontingent deferred sales charge(CDSC). With back-end load charges, an investorincurs a fee when they exitthe fund rather than when they join, so all of...
which is deducted when selling the shares. Class B share funds do not offer breakpoint discounts, although the CDSC decreases over a five- to an eight-year timeframe. At that point, the shares are converted to class A shares with no back-end load. Some class B share funds ...
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The load is not contingent any more than death and taxes are. (243) Investors are apt to stumble into CDSC purchases by assuming that they are in essence getting a form of no-load fund since the sales charge is hidden from view. VI. The acid test: does rule 12b-1 benefit mutual ...