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Yep you are right! Got to watch the fund management industry like a hawk. At their web page YourProsperity state they may receive a % as a "trail" commission, and that this is disclosed in the fund profile and is paid to YP from the fund managers own resorces.

I checked out a recent prospectus from Perpetual (though it could be from any fund manager I quess) They state "In addition to initial commission paid, Perpetual may pay to licensed financial advisers an ongoing commssion out of its management fees (in order of say 0.4%) of the average daily balance of your investment and is paid monthly. Is this the trail commsion? I presume from these two statements that this commssion comes out of the pocket of the managed fund (and is part of the MER) and NOT the investors direct earnings. Am I correct?

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