$United Money Market Fund-Class R (MYU9100AN000.MF)$ Does it...
$United Money Market Fund-Class R (MYU9100AN000.MF)$ Does it mean interest count on daily basis and 0.33% management fees will be charged?
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Moomoo Lily : @Moomoo Buddy Please help assist it.
Moomoo Buddy : Dear valued customer, the NAV / platform calculated returns, etc that you see have already deducted the management fee and other fund company costs. Investor do not need to pay extra.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
If you have any further questions please feel free to come in line, we wish you a good day!
Dadacai : Return = current NAV - NAV at point of confirmation of units. Funds do not pay interest unlike a bank deposit.
Thomas kuanvin : In the case of MMF, you technically don't earn the interest everyday per said but instead such accrued yield will reflected in the movement of NAV ie. The unit price.
Meanwhile, 0.33% management fee will be incurred at the fund level everyday and in this case, 0.33%pa ie. 0.33% /365 = the management charged day by day.
NAV each day ie. Net Asset Value = the principal + accrued income - expenses and fee including annual management fee. So the NAV you see is a clean price to user/investor.