Management fees typically range from a few basis points on broad index products to 0.75% or more on active equity funds, and 1% to 2% on hedge fund and private market vehicles where a performance-fee sits on top.
The fee is charged on assets, which creates an incentive to grow assets rather than returns. Funds that close to new money when strategy capacity is reached are choosing against that incentive, and it is worth noticing which managers do.
Separate the manager's fee from the wrapper's other costs when comparing. A cheap manager inside an expensive platform, or vice versa, is what the investor actually pays. See wrap-fee and total-expense-ratio.
Related: total-expense-ratio, performance-fee, wrap-fee, two-and-twenty, fee-drag