NO LOAD FUND
\nˈə͡ʊ lˈə͡ʊd fˈʌnd], \nˈəʊ lˈəʊd fˈʌnd], \n_ˈəʊ l_ˈəʊ_d f_ˈʌ_n_d]\
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Mutual fund or unit trust with no fees or charges or sales commission, known as the load. When an investor buys shares as units, or the fund sells, it is directly to the actual investor without involving a broker or dealer. Net asset value (NAV), market price, and offer prices are all identical because there is no load. Some no-load funds do have an annual advertising and marketing fee. the designation 'NL.' denotes a listing of a no-load fund's share or unit price in newspapers.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.