� Fees can wipe £100,000 off the same £100k investment

£100,000 invested in the MSCI World for 20 years ends very differently depending on fees:

� £300,000 with a 0.3% fee
� £250,000 with a 1.3% fee
� £200,000 with a 2.3% fee

Same market.
Same returns.

Only the fee changes.

One decision quietly costs about £100,000.

@venture