The number you need to look at for ongoing expenses is the total expense ratio. In this case 1.20% This means that you will pay 1.20% of assets in the fund, or in your example $36.00 per year. Expenses are generally deducted quarterly before the NAV is calculated. So if your fund earns 11.5% for the year, you will only see a gain of 10.3%. I have no idea how the Management Fee of 0.60% can exceed the maximum fee allowed. Please double check this info. If it is accurate, call the fund family and ask for an explanation and please post their response.The total expense ratio includes the 12b-1 fee and management fee. The rest of the expense ratio is made up of other expenses such as Rent, Electric Bill, Season Tickets to the Celtics (Luxury Box), etc. etc.The initial load of 3% is charged when you purchase the funds. You should NEVER buy a fund with a load. Deferred Loads or back end loads aka CDSC. (Contingent Deferred Sales Charges) is when they charge a load upon withdrawal. This usually is on a sliding scale and disapears after 5 years. Again loads are expressed as a precentage of assets. The Redemption fee of .75% is usally charged if any redemptions are made within a short period of time after investment. Usually 90 days. This can vary so double check or call the 800 number and ask. Again, you should NEVER pay any type of load.Hope this helps. Even if just a little. Please follow up with any additional questions.
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