Before Reimbursement Expense Ratio
外汇网2021-06-19 13:39:52
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The percentage of a fund's average net assets that is used to cover the annual operating expenses of managing a mutual fund before reimbursements are made to the fund by managers.Also known as the "gross expense ratio".
A mutual fund's operating expenses include management fees, transaction costs and other business costs. Some of these expenses may be reimbursed by management. Reimbursed fees often include indirect fees such as transaction costs from dealing with other mutual funds, transaction costs associated with exchange traded funds, or the pidends paid out from a short position on an asset.Reimbursements also occur when a fund's expense ratio is limited. In capped funds, an expense limit is created to place a ceiling on the charges to the fund's shareholders. The limit is often expssed as a percentage and is a highlighted in the fund's prospectus.
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