Series 24: 3.5.1.5. Additional Fees

Taken from our Series 24 Online Guide

3.5.1.5. Additional Fees

Mutual funds charge certain fees, besides sales charges, that come out of funds’ assets. Mutual funds are managed by an investment adviser or a portfolio manager. These managers are typically paid well for their expertise.

First, 12b-1 fees, also called maintenance fees or distribution fees, are fees that are charged to recoup the expenses of selling, marketing, and distributing the fund. They include advertising costs such as printing materials and mailing prospectuses. They also include the salaries of the sales people, but they do not include transaction costs.

A 12b-

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