Meaning of 12B-1 FUNDS in English

12B-1 FUNDS

Mutual funds that do not charge an upfront or back-end commission , but instead take out up to 1.25% of average daily fund assets each year to cover the costs of selling and marketing shares , an arrangement allowed by the SEC's Rule 12b-1 (passed in 1980).

Campbell R. Harvey. Hypertextual finance English glossary.      Английский словарь гипертекстовых финансов.