Why The Big Boys Suddenly Like No Loads

You have done a great disservice to mutual-fund investors ("The big boys finally say `yes' to no-loads," Finance, Nov. 6). Your reporter suggests that investors will be better off with these new no-load options: "Instead of a hefty load, investors will pay the broker a small annual fee...between 1% and 2% [annually]." This would be in addition to annual operating expenses, which are around 1.5% per year.

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