This effectively precludes front-end load funds unless the initial investment is large enough to eliminate the load.

FORBES: Put Intermediate Muni Funds In Your Portfolio's Rotation

In other words, by reducing the principal investment, front-end charges permanently impair the future returns to investors.

FORBES: This Fund Is For You If You Love Paying Fees

Assuming a three-year holding period (the average length of investment in mutual funds), this front-end load is costing investors 2.1% per year.

FORBES: This Fund Is For You If You Love Paying Fees