I was recently asked by an Australian financial start up to look over the data corresponding to retirement accounts in the country. You can find the article on their website, getpocketbook.com.
The findings come down to this, and relate to almost every investment you could make – fees hurt you. The more you are paying for fees, the less money you are going to make. You are supposed to think that high fees mean better investments and better management, but even if this is the case, the payoff is not more than the fees themselves.
Look at the returns instead as a guide, and if stuck, always go for low-fee, index-linked investments.