Back-end load
Back-end Load is a redemption charge an investor pays when withdrawing money from an investment. Most common in mutual funds and annuities, the back-end load is designed to discourage withdrawals. Back-end loads typically decline for each year that a shareholder remains in a fund. Typically back-end load charges start at around 5% to 7% in the first year, and will decline towards 0% over the next 5 to 7 years.
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