Ann: Change in substantial holding for PAF, page-20

if you like to keep paying 13% or even higher fees then go for it and to convenience your mind that you are paying 1% then keep using FUM.

One should only pay for money earned not on the principal. You calculate fees on earning and dividend on earning as well then still fees will be higher.

populate below table and learn the maths yourself

WAM - Total outstanding shares for FY 2021

WAM - Earning per share
WAM - Dividend per share
WAM - Fees per share

now you will see how much fees they charge out of earning the receive simple is that obviously compare that with dividend yield you get.

However, if you prefer to pay fees on the NTA then go for it, but it is not the method fund should be using in my opinion but certainly you can entertain yourself with high fees.