Fund administrative fees vary greatly depending upon the size of your fund. In particular, it depends upon fund assets under management and the number of fund clients. For a small start up fund, expect to pay a flat fee of around $1,500 per month. Conversely with a larger fund, say one with $500 million in AUM, the administrator will charge a fee based on AUM, such as 10-15 basis points. Hence, for a $500 million fund, a fee of 10 bps amounts to $500,000 in fees per year. Also bear in mind that in general, administrators will only work with clients who manage in excess of $100 million.