This is a fee paid on an ongoing annual basis by you to the manager of your investment or life insurance/pension policy. The amount of these charges varies from company to company and from product to product but is usually in the range of 0.35% to 2%. For unit trusts, these fees are already deducted from the NAV. High annual fees can sometimes predict poor investment performance, but in funds that conduct extensive and costly research, this may not be true.