Definitions for "Share classes"
A load fund will often offer several share classes, each with a different load and expense-ratio combination. The idea is to give investors a choice of whether they want to get smacked with a load right away or whether they want to put off the inevitable.
Represent ownership in the same fund, but charge different fees. This can enable shareholders to choose the type of fee structure that best suits their particular needs.
Represent ownership in the same fund, but charge different fees and/or provide different shareholder services, enabling shareholders to choose the type of structure that best suits their particular needs.