No Load, or NL
is a type of commission
charged on mutual fund
s - in this case, no commission at all is charged. That's a little misleading, because there is still a fee to the purchaser of NL funds - the MER
, or Management Expense Ratio
, a percentage which covers the mutual fund company's operating expenses. However, No Load funds are still the cheapest, commission-wise, of all mutual funds.
Other commission types include Front-End Load (FE), also known as Initial Sales Charge (ISC); and Deferred Sales Charge (DSC), also known as Back-End Load.
adventures in canadian finance: a metanode