MANAGEMENT EXPENSE is the management fee deducted from a funds average net assets to pay an advisor or sub-advisor. This fee is normally on a sliding scale. As the net assets of the fund increase, the percentage deducted for management fees decreases. A fund can also have a fixed rate or flat fee to compensate the advisor.
DISCRETIONARY COST can be increased or decreased at the discretion of the decision maker (e.g., advertising and business travel).
CURRENCY DENOMINATION see DENOMINATION.
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