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Some mutual funds charge a load.That's a fee to buy or sell shares of the mutual fund. There are many no load funds that charge no fees to buy or sell. However, even no load funds charge maintenance fees that are a percentage of your investment. This is usually a small percentage but it can add up as the years go by.
Some mutual funds have managers who choose the investments for the fund. There are also index funds that mimic a specific sector of the market. All mutual funds have a philosophy. Some are aggressive while others are conservative. Some are all stocks while others are balanced with stocks, bonds and cash. Some focus on small cap stocks or tech stocks or gold. The combinations are endless.
Often you won't see the management fee yourself (unless you read the details of their operation in their report). It's often compounded in their general gain and loss, profits and expenses.
When they evaluate the NAV (net asset value) or the dividend, they already take in acccount their own fees. It's not like you have to pay a fee separately.
HTH
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