ba736

If you want to compare gross of fees vs. the benchmark, by all means go ahead. As long as you disclose the other fees that would be taken from the fund like management fees. What I mean is if you disclose management fees of 2% per annum on that marketing material. If you only have to say "other fees like management fees will be taken from the funds", then to me, this is misleading because now your asking the client to hunt around for your information when the whole point of GIPS is to make it a simple, clear, and concise form of presentation.

This is the question I have is, whether you have to say what the actual fees are (ex. 2% management fees) in the marketing material or just disclosing that other fees are not including in the performance presentation (ex. "performance is before management fees" without disclosing what the actual cost of the fee is on the marketing material)

Deep2002