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What does it mean when a fund charges a load? Who gets the monies collected for the load? (Hint: its usually not the company managing

What does it mean when a fund charges a load? Who gets the monies collected for the load? (Hint: its usually not the company managing the fund.) Some loads can be as high as 4-5%. Why would an investor be willing to pay a load for a fund when there are funds that dont charge a load?

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