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If you have invested it in a mutual fund, be sure to know it. You want to invest 100,000 K, but eventually find out that you have actually invested only 95,000. After several years, you want to monetize your investment, but instead of the announced 15% return, you only get 14%. Is there a problem with you? In fees. These determine the difference between the fund’s performance and your actual return.

Many investors, especially arrests, are involved in the selection of the fund with several basic parameters, which are most often with the fund of the liaison fund. It is mainly the performance of the fund, the risk, or the company that manages the fund. However, at the first acquaintance with the fund, few people have the expenses that are associated with investing in the fund.

Although the fee is generally considered a good compromise in the fee due to diversification compared to other methods of investment (eg trading in shares through a brokerage firm), in some cases the furnace is only a significant item, which cuts a potential piece from the potential profit.


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In the case of investment in mutual funds, the fees are divided into entry, entry and management (managerial). For some companies to go, you will encounter a special transfer fee. He likes the company if the client transfers to another fund within one company. It is usually more appropriate to pay for a transfer, not if the investor has paid an entry fee to the fund he is growing into (sometimes even a transfer fee is not charged at all).

A very important item in the costs column are the entry fees, which your company invests in when buying share certificates. In the entrance fees depend on the group of funds to which the fund belongs. The highest are, of course, equity funds, here they range from 3.5 to 6% (but there are also funds with a zero fee). Similarly, there are exchange funds (3 – 6%), bond funds, you have to pay about 2 – 5% and pay the least (about 1%) when entering the money market fund (even here there are exceptions, where you can pay for uritch conditions pay a fee and 5%). A special group of funds consists of hedge funds, which charge different fees in the subscription period (they can be zero) and after the subscription period (up to 5%).

Not a percentage as a percentage

Even with the seeming simplicity of the entrance fee, it is very important to drive

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on how this fee (or rather from how to contact) is required. There are two basic ways of depositing, so it happens that when investing the same amount in two funds with the same entry fee and the same unit price, in the end you do not have to buy the same number of unit certificates.

In the first case, your investment (say 100,000 K) is the basis for the calculation of the entry fee. It is then calculated as 100,000 * 5% and is therefore 5,000 K. The actual investment is then 95,000 K.

In the second case, the amount of 100,000 K represents the amount increased by the entry fee, and it is thus necessary to find a deposit, to which when we add 5%, we get the amount of 100,000 K (the amount of 100,000 therefore represents 105%). The entry fee is calculated as (100,000 * 5%) / 105% and is 4,761.90 K. The actual invested amount is therefore 95,238.10 K. In this case, we will buy for the same amount (100,000 K) by 238, 10 For more sub-sheets not in the first case.

Funds with the highest and lowest entry fees
Money market funds
Fondmax. entrance feeperformance in 2004
P Invest Pennho Market0%2,18%
HSBC US Dollar Reserve5,25%0,35%
Bond funds
Fondmax. entrance feeperformance in 2004
ISS Sporobond0,5%6,00%

Source: Fincentrum

For the investor, the kind of return method logically proves to be suitable. When buying a different number of share certificates, this fact is reflected in the growth, which is needed to achieve the originally invested 100,000 K. In the first case it is 5.26%, in the second exactly 5%. The way in which the company uses the investment is mentioned in it. In the Czech Republic, companies use both principles in roughly the same proportion. It is therefore important that you find out about this before buying a leaflet. Only in this way does this information appear on the company’s website or in the fund’s prospectus.

Funds with the highest and lowest entry fees
Smen fondy
Fondmax. entrance feeperformance in 2004
SOB Quantity combined0%0,55%
AVIVA European Corp. Bond – R16%8,06%
Equity funds
Fondmax. entrance feeperformance in 2004
IKS svtovch index0%-3,36%
AVIVA UK Equity Fund R16%12,26%

Source: Fincentrum

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A notable type of fee for the fund is the management fee, the so-called management or management fee. He buys each company and in most cases sweats as a percentage of the fund’s total assets. It is deductible daily or weekly for each valuation of a certain trading fund and ranges from 0.5 to 2%. For the investor, this fee is actually invisible, because it is reduced directly from the calculated same name to the share certificate. Some funds charge these fees as a percentage of the fund’s return, or go the extra performance fees that are secretly derived from the return (that is, the return is achieved above the selected fund benchmark.

The last type of fee you may encounter is the entry fee, which you pay when leaving the fund. This fee is very small. Most often use this form of fee hedge funds. These are the designers for a predetermined period of time under certain conditions, which they can guarantee only if the investment horizon for which they are designed is observed and therefore you have high entry fees. The fee may be darker, the number of years remaining until the end of the fund.

It is not possible without them

In any case, we do not avoid fees when investing. And u is an investment in action,

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fund, or into other investment instruments, it is necessary to deal with them. Although the fees of the fund may seem high to some, it is important to realize that when investing through a broker, we could not achieve the same level of diversification for the same pension. But when we have to pay someone something, you have to spend how much we pay on the fees, or if the fees correspond to the performance of the fund. Paying 5% for a fund with a performance of 3.5% and the same for a fund with a performance of 35% is a difference.

When examining the fee, all types of fees need to be taken into account. It is possible that a fund that does not require daily entry fees may have high management fees and, as a result, my investment will increase. Thus, it does not have to be the case that foreign funds are expensive, but offer in experience and better portfolio managers and thus the profit margin in He showed it and a year has passed. In the case of funds with an exchange entry fee, it is then necessary to deal with a long investment horizon in order to make a loss from the fee.

Are the fees of mutual funds adequate to their performance? Drink your experience, we will be tit.

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