Definitions for "No-Load Mutual Fund"
A No Load fund is a fund that typically can be purchased without commission. Brokers will usually have the right to charge a commission on the purchase similar to a front load fund. No Load funds can be charged a redemption fee at the discretion of the broker.
A mutual fund that does not charge a fee to buy shares of the fund at the time of purchase or at time of sale.
An open-end investment company whose shares are sold without a sales charge. There can be other distribution charges such as 12B-1 fees. A true no-load fund has neither a sales charge nor a distribution fee.