It is a fact that the fund managers of closed-end fund and mutual funds are super rich. Why? Let us examine their fees and charges:

Above is in the page 45 of Icap 2017 annual report. Capital Dynamics Asset Management Sdn Bhd. (“CDAM”) is acting as Fund Manager to Icap. It is responsible for managing Icap’s investment. Capital Dynamics Sdn. Bhd. (“CDSB”) is acting as Investment Adviser to Icap. It is responsible for providing investment research and analysis to Icap. To put into table format:

Icap management fees and investment advisory fees:

The NAV of Icap = 140000000 shares x 3.47 per share = RM485.8m. The portion of total fees of RM58m is already about 12% of its current NAV! Read this https://klse.i3investor.com/blogs/general/134192.jsp and justify for yourselves if the fees are worthwhile.

Now let us examine Public Regular Savings Fund:

The size is $USD1.3b = RM5.5b. Note the Front load Fee is 5.5%, If you invest RM1m, you only get 94.5% of 1m = RM945000, RM5500 is the "entry fee".

1.5% of management fee = RM83m! 0.06% of Trustee fee = RM3m! Its 3 years annualised is only 0.84%, you are better to put your money in FD!

http://www.thisismoney.co.uk/money/markets/article-4262170/Billionaire-Buffett-attack-sky-high-hedge-fund-fees.html