Total expense ratio (TER)
If you want to know the total costs of a fund, the fees and other expenses combined, look for the Total Expense Ratio (TER). It will normally change from year to year and is shown as a percentage.
You shouldn’t necessarily go for the cheapest fund, because a good fund could achieve better returns and even offset the fees, but it is important to be aware of the costs.
Usually the TER is the Annual Management Charge (AMC) plus other costs such as legal fees and auditors fees.