Hi There, I'm looking at my pension fund options after making a deposit to my fund that's currently sitting in cash. I was looking at the Davy GPS funds and came across this section in the brochure on fees and charges and I'm wondering is this normal across all funds as I cant find a similar detailed document for other funds I'm looking at. There are some really surprising ones here including directors fees and out of pocket expenses. Do the majority of fund providers charge these fees also. There is at least 13 charges listed here. Investment Management Fee A fee of up to 1% per annum of the value of each Fund is payable to the Investment Manager. The Investment Manager is also entitled to its reasonable out-of pocket expenses out of the assets of the Funds. Commission There may be a charge of up to 5% entry commission on any subscription for units in the Funds and up to 3% exit charge on redemption's. Director’s Fees A maximum fee of €40,000 plus VAT per annum will be payable to each Director of the Company from the assets of the Funds. All Directors will be entitled to reimbursement of expenses in connection with the business of Davy Funds plc or the discharge of their duties. Custodian Fee The annual fee of the Custodian is up to 0.015% of the net asset value of each Fund, subject to a minimum monthly fee of €600 per Fund as well as a transaction fee for each transaction conducted. The Custodian is also entitled to its reasonable out-of pocket expenses out of the assets of the Funds. Administrator’s Fees The annual fee of the Administrator is 0.085% of the net asset value of each Fund, subject to a minimum annual fee of €30,000 as well as a transaction fee for each transaction conducted. The Administrator is also entitled to its reasonable out-of pocket expenses out of the assets of the Funds. Money Laundering Reporting Officer’s Fees An annual fee of USD20,000 and any applicable taxes will be paid out of the assets of the Fund in respect of the Money Laundering Reporting Officer. Establishment Expenses All fees and expenses (estimated to amount to approx. €75,000) in relation to the establishment and organisation of the Company and the initial Funds will be taken out of the assets of the Funds. Fees payable within the Underlying Investment Funds The Underlying Funds in which the Funds may invest will bear their own fees and expenses. They will also be subject to management fees and other expenses of a similar nature to those applying with respect to the Funds such as redemption fees, subscription fees and the fees of service providers such as the custodian, trustees and administrators. The Funds will typically only invest in Underlying Funds, which charge management fees of up to 3% of the Underlying Fund’s net asset value. Anti-Dilution Levy Upon the recommendation of the relevant Investment Manager, an Anti-Dilution Levy may be imposed. Please refer to the Prospectus for further detail. Operational Expenses The Funds will be liable for certain fees and expenses related to the provision of these services including but not limited to Agent Fees, Distributor Fees, sub-custodians and sub-investment managers fees. Please refer to the “Fees & Expenses” section of the Prospectus for additional information.