Ultra OTC Fund - UOPIX Message Board

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Strategies & Market Trends : Ultra OTC Fund - UOPIX

UOPIX 149.70

-0.5%

Dec 8 4:00 PM EST

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To: John who wrote (1118)	1/4/2001 5:13:35 PM
From: Bernie Goldberg	Read Replies (1) of 2063

Hi John, There are two places where you will "see" those fees. The first place is in the prospectus where they are defined. I don't think 10% of the people who invest in Mutual Funds read or understand the prostpectus. Secondly they are removed from the Net Asset Value every day before the NAV of the fund is calculated. Assume that the fund has total Net Assets worth 500 million dollars at the end of the day . $25,094.34 is removed from that fund before the NAV is calculated. The remainder is divided by the total number of shares to get the NAV for the customers. This happens every day regardless of whether the fund goes up or down. They are not deducted from your account they are deducted from the entire fund. The fund gets their money rain or shine. Bernie PS the calculation presented here is based on UOPIX's 1.33% expense ratio which is slightly above average.

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