How are fees disclosed in the fee table?
The fee table provides information to investors in three ways. First, any applicable sales commission is identified. Second, all annual fees are listed individually and then added together. Finally, an example is presented that focuses an investor’s attention on the total cost of the sales commission (if any) and annual fees over various time periods. More detailed descriptions of each element of the fee table follows: • Sales Commissions (also known as “loads”). Loads are “transactional” fees that are collected by some–but not all–funds. The fee table identifies whether loads are charged when shares are purchased. If so, the amount of the load is listed in percentage terms. Loads may not exceed 8.5 percent of the amount invested, and most funds that have loads charge considerably less than this amount. Loads are most often charged when a financial professional assisted in the sale, and are used to compensate the professional. Many mutual funds that are sold with sales loads offer di
