PEOPLE OVERVIEW. The 2016 Redwood City, California, population is 85,288. There are 4,385 people per square mile (population density).
In addition to paying the portfolio manager's salary, the management fee covers the cost of the investment manager's staff, research, technical equipment, computers, and travel expenses to send analysts to meet corporate management. While fees vary, the average equity mutual fund management fee is about 1.40%.
When a portfolio manager for an index fund performs additional management services, the fund is no longer passive. Consequently, funds with these added selling features have fees that are well above average. Take, for example, the Devcap Shared Return fund, which is a socially responsible S&P 500 index fund. As of Jun. 4, 2003, it had an expense ratio of 1.75% and charged a 12b-1 fee of 0.25%.