ETFs in focus: Total expense ratios

What does the TER actually include? Valérie Baudson: The total expense ratio (TER) includes the total costs associated with managing and operating a fund. These costs consist primarily of management fees and additional expenses such as trading fees, legal fees, auditor fees and other operational expenses. For the Amundi ETF range, the TER equals the management fees; other costs are paid directly by the management company and are not charged to the fund. David Bower: The TER covers the annual expenses incurred to run the fund. The TER includes the management fee and a list of costs car...