If you’re an investor with average knowledge of the markets, chances are you’ve put most of your money into mutual funds. Makes sense: these funds diversify your investments and put your money into a large pool with others. The biggest criticism of mutual funds is that the fees, most of them hidden, eat away at your investments. A number of studies have shown that in Canada we pay some of the highest mutual fund fees in the world. Here’s a breakdown of what the fees are and what they’re used for.