What is the primary difference between Class A and Class B shares?
A. Class A shares have an up front sales charge, and no sales charge when redeeming shares. Class “B” shares have no up front sales charge, rather a back-end charge called a contingent deferred sales charge (CDSC). This charge is based on when you redeem the shares, how long your investment has been in the fund. The longer, the less of a sales charge. For example, if you redeem your shares within the first year, you may get charged 4%, 3% in year two, 2% in year three, 1% in year four, and 0% above 4 years. The prospectus should be reviewed as each fund has a different surrender charge schedule.
