MANAGEMENT EXPENSE Definition

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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.

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COST REDUCTION is actions taken in the present designed to decrease costs in the present. See COST AVOIDANCE.

THEORY OF CONSTRAINTS is a management approach that focuses on identifying and relaxing the constraints that limit an organizations ability to reach a higher level of goal attainment.

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