Commentary: Mutual Funds Should Unload Their LoadsJeffrey M. Laderman
For decades, Founders Funds sold its mutual funds directly to the public without a "load," or sales charge. But recently, with good but not outstanding performance, the company had a hard time attracting investors. So on Dec. 31, Founders slapped loads as high as 5.75% on their funds and started marketing them through brokers and financial planners. Now, these "advisers" who get their clients to buy the funds will collect the fat sales charge.
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