What is the meaning of Load fund?

Some mutual funds charge a load, or sales commission, when you buy or sell shares or, in some cases, each year you own the fund. The charge is generally figured as a percentage of your investment amount. Most' Load fund's are sold by brokers, financial planners, and other advisors, while no-load funds, which don't have sales charges (but may levy other fees), are usually sold directly to the public by the fund company. There's no evidence that load funds outperform no-loads, or that funds with higher loads outperform those with lower ones, so the added cost of load funds should be considered in choosing one fund rather than another.