Entry fee used to be 0.75%. There is a gap between buy and sell price for some funds, and MER (managed expense ratio), like account management fee I suppose, around 1-2% for most funds.
Edit: Previously discussed in comments here, thanks dansor.
yeah i thought we had had a small discussion on this before , couldn pin point where .. good on ya for posting this dansor , but on the other hand it should be hilighted so that others who dont read the comments might know about. well (@kcyw) you could update ur post with the link to the comment saying "previously discussed or something" … cheers
oh ok, I didn't know it's been commented on before. I guess it's ok to make a post about it though, as I imagine not that many people would have seen that comment.
Not only has it been discussed before, but it is also not that a good deal even at 0.25% entry fee. There are many DIY sites that give you nil entry fee on either retail fund or wholesale fund, as well as rebating trial commission.
Do you have any particular favs scotty?
I'm not so enamoured of managed funds generally although the small caps ones look ok…
I've used a few and I used to work with one such advisor. One big one that I use these days is InvestSmart — they were in The Australian yesterday I think. No entry fee + TrailCap which give you back some trail commission (only useful if you invest a large amount).
Please see your financial adviser for more info. Oh wait, DO NOT see your financial adviser for fund suggestions as they are likely to recommend you something they'll get big commission for.
access to wholesale (100k+ investments) is great now a lower entry fee… awesome!