GIPS : gross of fee, net of fee return
As I know,
Gross of fee return : Return
Net of fee return : Return - Fees
And I would like to know what fee above means? my guess is ‘management fee’.
Then above Return is already deducted by trading expenses (trading fee) ?
Then,
Gross of fee return : Total return - trading fee
Net of fee return : Total return - trading fee - management Fees
Is that right?
Then, where should the custody fee be put in above? |