Ongoing Charges (Total Cost)
The Ongoing Charge represents the total costs you can reasonably expect to pay as an investor from one year to the next, covering all the costs of operating the fund. The cost is embedded into the price and deducted daily, so regardless of when you invest, you are treated equally and you only incur costs equal to the holding period of the investment.
The main component of the ongoing charges is represented as the management fee.
Management Fee
Taken from the fund's prospectus, this represents the management and administrative fees listed under Management Fees. It most commonly represents the costs investors pay for management and administrative services over the fund's fiscal year.