A limit that is incurred by a mutual fund and placed on top of full operating expenses. It is usually calculated and defined as an overall percentage of a fund's assets and limits the amount of fees that can be charged to a shareholder.

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser