Examlex
Which of the following statements is false?
Open-end Investment Companies
Mutual funds that continuously issue new shares or redeem existing shares at the net asset value.
Mutual Funds
Funds that aggregate capital from numerous investors to acquire a varied collection of shares, bonds, or alternative financial instruments.
12b-1 Fee
A fee found in the expense ratio of some mutual funds, meant to cover marketing, distribution, and other costs.
Front-end Load
An upfront sales charge investors pay when they purchase mutual fund shares, which reduces the amount of the investment.
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