XYZ Canadian growth fund sells three classes of shares. Class A shares charge back end load scheduled as below:

If you sell: within one year of buying 6%

within two years of buying 5.5%

within three years of buying 5.0%

within four years of buying 4.5%

within five years of buying 3.0%

within six years of buying 1.5%

after six years 0%

Class B shares charge front end load of 2%. Class F shares do not charge front end load and back end load. The MER for Class A, B, F is 2.48%, 2.28%, and 1.13% respectively. The TER is 0.17% for each of three classes of shares.

You invested $1000 in each of the three classes at the beginning of 2016. Below is the return information from 2016 to 2019 provided by the fund: (returns are after expenses have been deducted)

	2016	2017	2018	2019
Class A	13.6%	15.38%	-9.24%	27.64%
Class B	13.83%	15.64%	-9.05%	27.91%
Class F	15.15%	16.94%	-8.00%	29.37%

Please find out how much money you receive for each class if you sell them at the end of 2019 (within 4 years of buying).

Some portfolio managers claim that they charge higher MER because they can generate higher returns for investors. Do you agree with this statement based on the returns of these three classes of shares (both before and after expense returns)? Please explain.