Fund management fee is the fee paid for the consideration of the management of a fund. It is calculated as a certain percentage of the total value of the fund on daily basis and is collected from the fund on monthly basis. Fun management fee ratios are described in the prospectus of each investment fund. In order to prevent creators of investment funds from charging investors with exorbitant fund management fees, the Capital Market Law sets maximum fee percentages. Pursuant to the said law, portfolio management companies are prohibited to collect fund management fees in a ratio higher than the ones shown in the following table. Even if an investment fund does not have legal person status, such obligatory costs as audition fee, depository fee, notary attestation fee and committee fee payable for that fund will be collected together with the fund management fee from the fund. Maximum ratios of the fund management fees are shown in the following table.