Hi CFA mates, does any1 have any idea as to how to crack this section, as I read 1 page and usually go 2 sleep, any kind of notes will certainly help!!!!!!!!!!!!!!!
Relating to fees from Smokin’Hot’s responde to one of my threads last year. These are important nuances. For an overall GIPS and AMC summary, see this thread I did last year: http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91241629
AMC- disclose both- REQUIRED
GIPS- you can present either, but gross is RECOMMENDED
GIPS, P/E: net of fees and gross of fees SI-IRR
Wrap Fees/SMA- must present returns after deduction of all BUNDLED FEES (this makes sense if you think about it)
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