back-end load
noun[C]
ukus(UKalsoexit charge)FINANCE
anamountofmoneythat aninvestorpayswhensellingsharesin sometypesofinvestments:
Thefundalsocarriesa back-endload: 2.5% if youredeemwithin the firstyear, and 1.25% if yousellbetween one and twoyears.