ThirdAge Investment Glossary |
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Level load
An annual 12b-1 fee on a mutual fund, if that fee is greater than 0.25% of the fund's assets and if the fund does not charge either a front-end load or a back-end load. If the 12b-1 fee is 0.25% or lower, the mutual fund is a no-load fund rather than a level-load fund. The mutual fund prospectus must disclose whether the fund has a level load and, if so, how much it is.
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