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What does contingent deferred sales charge mean?

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contingent deferred sales charge
(CDSC)
Noun

A deferred sales charge (back-end sale load), the amount depending on how long the investor holds the mutual fund shares and commonly decreasing to zero after a specified time period.

Synonym(s): 
  • contingent deferred sales charge (CDSC); contingent deferred sales load (CDSL).
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