Question #2 (10 Marks) Management fees are expenses paid by the mutual fund for professional management, investment research, marketing, accounting, record keeping and legal advice. Investors are not directly charged for management fee. Please respond to the following questions:

a) Given the information above, explain why investors should be concerned about the management fee when searching for a new mutual fund for their investment portfolio.

b) What information in the Fund Facts document helps investors compare management fees among different mutual funds.