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The ECA Growth Fund incurred the following charges in 2020: Management Fees = $4931714 Audit fees = $2991544 Trading fees = $2731782 Custodial fees =$2108912

The ECA Growth Fund incurred the following charges in 2020:

Management Fees = $4931714 Audit fees = $2991544 Trading fees = $2731782 Custodial fees =$2108912 All other expenses charged directly to the fund = $7694794

Assuming the average Net Asset Value for ECA Growth was $913182006 in 2020, what is the MER?

Please provide your answer to two decimal places (e.g. for 12.34% simply enter 12.34)

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