What is the difference between Redemption fee and Deferred Load?
A. Both the redemption fee and deferred load are charges to the investor when shares are redeemed. The redemption fee is based on the current market value of the shares being redeemed, while the deferred load is based on the original investment; i.e., if an investment of $10,000 grows to $15,000 and is later sold, the deferred load would be based on the $10,000, but the redemption fee would be based on the $15,000.
