劉同學(xué)
2019-06-10 10:00能麻煩老師告知下 gross of fee 和net of fee的區(qū)別嗎 各包含了哪些費(fèi)用 謝謝！
所屬：CFA Level III 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
1個(gè)回答
Chris Lan助教
2019-06-10 14:49
該回答已被題主采納
同學(xué)你好，
gross of fee應(yīng)該扣除trading expense，但是其它的都是不扣除的，
如果是net of fee應(yīng)該是扣除trading expense和management fees。
The GIPS Glossary defines the gross-of-fees return as the return on investments reduced by any trading expenses incurred during the period and the net-of-fees return as the gross-of-fees return reduced by the investment management fees (including performance-based fees and carried interest)
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追問(wèn)
請(qǐng)問(wèn)custodian fee是不包含在gross 和net fee里的嗎 就是net fee 也沒(méi)有扣除custodian fee
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追答
同學(xué)你好，這是托管費(fèi)的定義，他應(yīng)該是每筆交易都收的，但是他不能算trading expense。
一般是算在administrative fees里面的。
The fees payable to the custodian for the safe-keeping of portfolio assets. Custody fees are considered to be administrative fees and typically contain an asset-based portion and a transaction-based portion. The custody fee may also include charges for additional services, including accounting, securities lending, and/or performance measurement. Custodial fees that are charged per transaction should be included in the custody fee and not included as part of trading expenses.
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