NO.PZ201909300100002404
问题如下:
4 Based on Exhibit 1 and Exhibit 2, the Red Grass Fund’s 2017 investment management fee is:
选项:
A.0.40%
1.00%
2.60%
解释:
B is correct.
Red Grass Fund’s fee schedule states that the fee will be the higher of either (1) the base fee or (2) the base fee plus the sharing of the positive performance. The 2017 return was negative and only the base fee should be applied.
sharing of performance应该是用active return算还是用return减base算?