Are retail funds worth the money?

In most walks of life the more you buy of a product the cheaper it becomes per unit. Buy one battery and it costs a £1, buy a pack of four and they are 80p each, buy 10 and they are 50p each and so on. There is one rather notable exception to this – retail fund management. Over the last 12 years retail funds under management have grown from around £200bn to over £500bn. Now you would have thought that with massive growth, coupled with the fact that there are pretty much the same number of actual funds in existence now as they was 10 years ago, that costs might have fallen. After all i...