A management fee is the price you pay for leaving all the headache of creating and managing an investment portfolio up to someone else. All mutual funds, ETFs and other types of investment funds have a management (or administration) fee. This fee covers administrative and management services like completing transactions for you, servicing your account and the overall management of the fund, portfolio management services including moving money from one fund to another, and carefully researching investments to potentially improve the plan’s performance, the fees for the trustee and custodian and the fund’s operating costs.

 The annual management fee for our CST Spark Education Portfolios is 1.3% plus tax. You can find more information about fees in our Simplified Prospectus.