Fluther: Regarding mutual funds, what does "back end load schedule one year" ...

Regarding mutual funds, what does "back end load schedule one year" mean? See below details?

Asked by JLeslie (65415

) September 11th, 2019
8 responses
“Great Question” (1

)

I know “back end” means you pay the load at the end, but I’ve been told by a financial advisor that if it is one year, that means if you hold more than a year there is no load to pay at all.

Here is an example of a fund that says one year: MMHCX

Is my financial advisor correct that there is no load if you hold the fund more than one year?

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Topics: investing, investments, finances, bonds, load, finanicals, monet, no load

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Answers

I think you understand.

Don’t trust the guy trying to sell you any loaded funds.

I never buy loaded funds.

Why should we have to pay a fee to let other people use our money?

gondwanalon (22864

)“Great Answer” (1

)

And here I thought “back end load” referred to a gastrointestinal problem.

elbanditoroso (33152

)“Great Answer” (1

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Contingent deferred sales charge as defined on NASDAQ website for a load of a back-end load fund.

Tropical_Willie (31122

)“Great Answer” (0

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@Tropical_Willie Thanks for that link. So, when you read the link I gave at the top do you interpret that fund to have zero load if held more than a year?

JLeslie (65415

)“Great Answer” (0

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There is a separate CDSC charge of 1.00% for less than a year holding.

Tropical_Willie (31122

)“Great Answer” (0

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@Tropical_Willie A separate charge of 1% for not holding a year, so does that mean there are other fees no matter how long you hold it?

JLeslie (65415

)“Great Answer” (0

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Yes !