I am having trouble understanding something.
A broker tells a client that an obvious A share fund in a wrap account does not have a load. That somehow the presence of a wrap account negates any load.
Can someone clear this up for me? And if it is true, mechanically how do they price the "unloaded" A share?
Many (most?) front end load funds have a clause to the effect that loads are waived for investors in fee-based programs (e.g. wrap accounts). Some families, like American Funds, do this differently by having a separate share class for wrap accounts (American Funds uses class 'F' shares).
Price is NAV.
Mark Freeland snipped-for-privacy@nyc.rr.com
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