What is the asset management industry's convention for specifying performance fees - gross or net of all fees?
The annualised performance % specified over 1, 3 and 5 years specified in unit trust's fund fact sheets are not always explicit this, for example the Allan Gray fund sheet I looked at states performance as net of fees but Sygnia and Investec are not explicit. Can I assume all funds' performances are net of all fees?
The annualised performance % specified over 1, 3 and 5 years specified in unit trust's fund fact sheets are not always explicit this, for example the Allan Gray fund sheet I looked at states performance as net of fees but Sygnia and Investec are not explicit. Can I assume all funds' performances are net of all fees?
