Management expense ratio: A measure of the total costs of operating a fund as a percentage of average total assets.
Management Expense Ratio (MER): a ratio expressing the management, trustee and certain other expenses of a managed fund as a proportion of the net asset value of the fund.
Management Expense Ratio. The amount of money expressed as a percentage that you pay your broker annually for managing your mutual funds. You pay this fee whether or not you make money, and it is not uncommon for MERs to be upwards of 2.2%.
Investopedia Says:
The class C fund usually has a higher management expense ratio because of its lower load fee when compared to other mutual funds with different load structures in the same family.
Class B funds normally have higher management expense ratios than shares which are charged front end and in the same family.
Not all fund companies follow this class structure; however, it is the prominent method of distinction. Typically, the class A fund has a lower management expense ratio compared to the other classes within the same family.
 See also: Expense ratio, Ratio, Investment, Fund, Investing
  
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