Why would some funds quote an ICR and others an MER?

Some funds may simply quote an MER as those are the only costs which will apply to the investor’s holding.

Many funds do not charge a performance fee, only a management fee in which case an MER is more appropriately quoted in comparison to an ICR.

These ratios are useful in comparing the costs of various funds as they represent different measures in how returns to the investor may be affected.

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