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%.
The total cost of mutual fund ownership lowers the annual rate of return from a potential 7 percent to 2.48 percent, which results in only $437,000 at retirement. The seemingly small fees ultimately cost the investor $508,000 over 30 years.