This would be in lieu of the board
system of running the fund that Cuomo has proposed take the place of the current sole trustee system.
In the case of an open - end fund, there has to be a portion of the fund in cash to handle transaction costs
of running the fund as there are management fees to come from running the fund in addition to dividends from the stocks that have to be carefully re-invested and other matters that make this quite easy to note.
Claugus openly discussed his early reservations about managing other people's money and how that nearly drove him to give up on his
dream of running a fund.
Every mutual fund has something called an expense ratio, which is a percentage of your money that's taken out of your investment every single year to pay the
costs of running the fund.
MER stands for Management Expense Ratio and is in essence how much money is paid to the Mutual Fund manufacturer in order to cover all costs
of running the fund.
The average Canadian stock market fund would make 8 per cent, minus the cost
of running the fund — typically around 2.5 per cent.