Business, Legal & Accounting Glossary
Annual Fee – also known as the Annual Management Charge – is a fee paid on an ongoing annual basis by you to the manager of your investment or life insurance /pension policy. These charges vary from company to company and from product to product but usually are in the range of 0.35% to 2%.
The percentage of the annual fee may be small but remember your investment or policy may reasonably be expected to grow and, assuming it does (otherwise why are you investing in it!) then the amount of money you actually pay in annual management charges grows with it, even though the percentage levy remains unchanged.
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This glossary post was last updated: 15th February, 2020