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Fund Spy

Here Come the Load Funds

Just about every load fund company is now available in No Transaction Fee supermarkets.

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I wrote this article for FundInvestor before American Funds turned the trend into a true tectonic shift.

Here come the load funds! More load funds are popping up in No Transaction Fee supermarkets--minus the loads. J.P. Morgan, Hotchkis & Wiley, Calamos, Morgan Stanley, Allianz, Columbia, Oppenheimer, ClearBridge, Western Asset, and Thornburg are all in NTF plans now. They carry the standard minimum investment and are generally load-waived A shares. The lines between load and no-load have been steadily blurring, but recent Department of Labor rule changes have really accelerated the shift. There are a few big exceptions, though. MFS has not joined the NTF trend, but maybe it will dive in now that American has.

Russel Kinnel does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.