A volume discount to the front-end sales load charged to investors who purchase mutual fund shares (often class A shares offer discounts that lower the sales charge). The discount is extended to such investors who qualify for breakpoint discounts adding up current holdings from prior purchases through rights of accumulation (ROA) and future purchases based upon letters of intent (LOI).

Investors have to review the mutual fund’s prospectus and statement of additional information for the relevant terms upon which a mutual fund offers such rights (ROAs) and letters (LOIs).