Uncovering LIC manager fees

The managers don’t display their fees so we’ve done it for you.

Summary: How much you pay in management fees on a LIC will depend on whether it is internally managed by an in house team, or externally managed – and contracted out to a fund manager who charges a management fee. For this exercise I have calculated management expense ratios by including management fees, accounting fees, share registry, custody, legal and other fees.

Key take-out: At the end of the day, it comes down to overall returns – but know what goes into calculating an MER and if performance doesn’t match up with fees, it might be time to look elsewhere.



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