Some investors would have to pay back-end fees to BankAmerica Corp. to redeem shares of a new class of mutual funds it is planning.

The $216 billion-asset company has asked the Securities and Exchange Commission for permission to issue Class B shares of its proprietary Pacific Horizon Funds.

The redemption fee would start at 5% and drop to zero in six years.

Back-end loads, as they are known, are common in the mutual fund industry, but only 20 banks have them, according to Lipper Analytical Services, Summit, N.J. BankAmerica has never charged a back-end load.

The San Francisco-based banking company manages more than $11 billion of mutual fund assets spread across 34 portfolios.

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