YSHARE
A class of mutual fund shares that often has a high minimum investment, such as $500,000 per lot, and the added benefit of waived or limited load charges and fees. Due to the high minimum investment required, Y-shares are often only accessible by large institutional investors.Many Y-class shares often waive the annual 12b-1 fees that are customarily charged for marketing and distribution purposes. The fee-free savings from buying Y-shares are substantial, considering that the amount charged from 12b-1 fees alone is 0.25-1.00% of the fund's assets and that at least $500,000 worth of securities are being purchased.