In a fund with an 8.5 percent load, the maximum permitted by law, it would grow to $99,138.

The fund, which carries a 5.75 percent load and annual expenses of more than 2 percent, is down 7.4 percent so far in 1995.

Ohio National's fund also has a 5 percent load, or sales charge, on an investment in its Class A shares.

Thus, a broker who sold $10,000 worth of shares in a fund with a 4.5 percent load would earn $144 on the sale.

Alliance's three-year return drops to 20.5 percent from 21.7 percent because of its 3 percent load.

These fund groups require more modest minimums - for example, Enterprise's is $1,000 - but charge a 4.75 percent load.

All working at about ten percent load; with nowhere in the galaxy to go to do any better.

"The person who collected the 2.5 to 5 percent load, that's it."

In fact, Magellan has a 3 percent load and no other fees, according to Fidelity.

While 8.5 percent loads were once common, a 4 to 5 percent sales load is more the norm today.