11.   Discount brokers are offering load funds to investors.

12.   Finally, mutual fund investors are buying more no-load than load funds.

13.   For the load funds, which usually charge a sales fee, Prudential waives the cost.

14.   Furthermore, some outstanding fund managers work only with load funds.

15.   How susceptible are investors in general to the sales pitches of load funds?

16.   If these two studies had not corrected for survivorship bias, we might not have known that the typical load fund underperforms the no-load.

17.   In other words, despite the lesser performance of the average load fund, average load fund investors are making more money.

18.   Instead of charging an annual fee, they sell load funds that offer a variety of commission structures.

19.   Load funds charge fees on sale or redemption or both, while no-load funds carry no commission charges.

20.   Maybe some investors see load funds as well worth the extra cost because of the help they receive from the sales representative.