The front-end load on these type of shares is charged on new sales and is not generally incurred when these shares are exchanged for another mutual fund within the same fund family.

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Class A shares typically have a front-end load, which is a sales charge that is applied when the investor purchases new shares. However, if an investor exchanges their Class A shares for another mutual fund within the same fund family, they will not typically incur another front-end load. Class B shares, on the other hand, typically have a back-end load (also known as a contingent deferred sales charge), which is applied when the investor sells the shares before a certain period of time has elapsed. Class C shares may have a level load (meaning the sales charge is spread out over time), but they also typically have higher ongoing fees compared to Class A shares. Class D shares may have lower ongoing fees but may also have higher transaction fees.

The Front-End Load on These Type of Shares Is Charged