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A Shares - A front end sales charge and usually a comparatively lower annual operating expense. No CDSC.
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B Shares - No front end sales charge and usually a comparatively higher annual operating expense. A CDSC is usually charged for some period of time (i.e. 5, 6, 7 years), however, after some period of time after the CDSC has expired, most B Shares will convert to A Shares and charge the lower annual operating expense.
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C Shares - No front end sales charge and usually a comparatively higher annual operating expense. A CDSC, usually 1%, will be charged for 1 year only. C shares do not convert to another class, so the operating expenses will remain the same. C Shares are often used for shorter investment time frames.
