The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.


A total of fees paid periodically to a mutual fund divided by the total investment that shareholders or unit holders has. These fees are management fees, administrative fees, and operating expenses of a mutual fund. This amount must be reported in its annual report. It is deducted from the fund’s income. It typically totals from one percent to two percent of the income. This number appears as a ratio.


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