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The process of changing a mutual fund from one class designation to another, due to a change in circumstances or requirements. This often happens when a company initially issues multiple series of mutual funds, and then after a certain series of events, one class of fund is reclassified as another class. One example of this is when a back-end load fund or front-end load fund is reclassified as a no-load fund once a given amount of time has passed.

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