Most of the supermarkets levy a transaction fee if you sell a no-load-no- transaction-fee fund within 45 to 90 days.
The other 5, 700 are either no-loads that carry a transaction fee, or load funds, or not directly open to individual investors.
Not all supermarkets are created equal, especially when it comes to the number of praiseworthy no-load-no-transaction-fee funds they offer.
To some degree, the supermarket concept, with its bargain-basement no-load-no-transaction-fee lure, is misleading.
One reason the numbers vary is that a given fund can be bought no-load-no-transaction-fee in one supermarket but not in another.
Fidelity is among the leading supermarkets, and many of its popular funds can be bought for no-load- no-transaction-fee only at Fidelity and Siebert.
But Price, with 19 of its own top-rated no- load-no-transaction-fee funds in its supermarket, rounds that out with 20 similar products from others.
Investors can construct diversified portfolios by accessing some of the best no load, no-transaction-fee (NTF) funds in different categories such as American Century Equity Income (TWEIX), UMB Scout International (UMBWX), and Matthews Asia Pacific Tiger (MAPTX).
So why should investors pay fund managers an advisory fee of 1% and perhaps a sales load of 5% for this dubious service?
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The cost of a fund includes the sales load (if you buy through a broker) or transaction fee (if you buy through a fund supermarket).
Since a broker, if one is involved, receives a fee from the mutual fund instead of charging a load, this could be causing average fees to rise (loads are not included in most expense ratios).
There are buttons that pertain to the vehicles' size--and subsequent fee--as well as those for receipts, wide-load vehicles and toll evaders.
The current rulemaking orgy comes as three out of four investors can't define an "expense ratio" and two-thirds think "no-load" funds are free (in truth, they don't charge a fee to start an account, but they do take annual charges for expenses).
There is no load, but Scott Page, comanager of the fund, says there is a sliding fee if you redeem your shares within two years of purchase.
If your unrealized capital losses are in no-load mutual funds, the first and third points would not apply (unless you are subject to a redemption fee).
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