More and More Funds Are Getting Loaded

Has the no-load fund revolution run out of gas?

Last week, Kobrick Funds and Gabelli Asset Management (GBL Quote), both no-load mutual fund companies, announced plans to add loaded share classes and sell their funds through brokers. On Oct. 11, First Eagle Funds, a fledgling no-load money manager, purchased a majority stake in broker-sold international specialist SoGen Funds.

They are just the latest in a steady stream of no-load companies trying to get a foot in the door of a business once thought to be headed for extinction. With no upfront sales charge and lower overall costs, no-load funds were supposed to bury their broker-sold cousins. The rise of the low-cost investing opportunities via the Internet was going to be the final nail in the coffin. ...