Question 12 Collective investments charge initial fees for investors who purchase their units. These fees can be very high, significantly reducing the value of the initial investment. Explain why a collective investment fund would charge a high initial investment fee. Question 13 Why is inflation an important consideration when purchasing an annuity? Question 12 Collective investments charge initial fees for investors who purchase their units. These fees can be very high, significantly reducing the value of the initial investment. Explain why a collective investment fund would charge a high initial investment fee. Question 13 Why is inflation an important consideration when purchasing an annuity