标题: GIPS_Fees and Expenses [打印本页] 作者: jcole21 时间: 2011-7-11 18:57 标题: GIPS_Fees and Expenses
1. "Returns must be reduced by the entire bundled fee that includes the direct trading fee... when calculating gross-of-fee returns" So is this requirement applied to both gross-of-fee return and net-of-fee return?
2. Indirect trading trading expenses and custody fees are not reduced when calculating returns? Is that correct?
Thank you作者: lcai 时间: 2011-7-11 18:57
1 - Yes. Net-of-fee returns are gross-of-fee returns minus asset mgmt fees.
2 - Custody fees are not included. Only actual trading expenses are decucted.作者: Chuckrox 时间: 2011-7-11 18:57
About (1), Schwerser book 5 P.190 says:" When calculating gross-of-fee return, returns must be reduced by the entire bundled fee that includes direct trading expenses"
So why do we have to deduct bundled fee to come up with Gross-of-fee returns? I think net-of-fee returns would make more sense.作者: cityboy 时间: 2011-7-11 18:57
Gross-of-fee returns do not include the inv mgmt fees.
