Depends on what €190 is when expressed as a percentage of the overall current fund value. If the plan is new and was not "seeded" with a significant lump sum then this percentage would be very large. Annual management charges of c. 1% would normally be considered reasonable/competitive but they can go slightly lower and significantly higher. If €190 is a fixed charge (i.e. not indexed linked or subject to review or whatever) then the "annual management charge" as a percentage of fund value will presumably effectively reduce over time. Once the fund is worth €19000 plus the effective annual management charge would be c. 1% and presumably falling. Are you at liberty to divulge any more information about this plan - e.g. who sold it, who manages it etc.?