if you buy ANY UTs either from here (FSM MY) or from any other fund houses, ...you will still be charged the ANNUAL mgmt. fees + a few other fees......sometime > 2% also....

read this for example to get the ideal....
http://www.moneysense.gov.sg/Understanding...rusts.aspx#What are the fees and charges? What is the Total Expense Ratio (TER)?

but do you need to pay it up annually? nope...you don't feel it...b'cos it is already reflected in the daily  NAVs
not like Sales charges / redemption fees where the money will be deducted from your invested / available value directly

Return only ~3.3% p.a keep in mind it's not liquid enough (one needs 2 days to get the money out).
Other than that, good place to park temporarily fund. But I personally won't use it.

sort of FD....profits always goes up....
look at the value of % of ROI....