In the Query Average Net Asset Calculation panel, you can review the average net assets amount for a defined period for a fund. When you use performance fees based on average net assets, you can use this panel to view the actual or estimated average net assets that the system calculates for a defined period, and then uses when it calculates performance fees.
You can view estimated average net assets in order to view average net assets for an entire performance period associated with a performance fee when there are dates in the performance period for which the system has not yet calculated total net assets. Accordingly, you can review average net assets calculated up to a five year period. Estimated average net assets use the last calculated net asset value for the remaining days in an average net asset period to calculate average net assets. For example, say you want to use average net assets from August 1 to August 31, but the system only calculated net assets up to August 10. The procedure stales the August 10 net asset value for dates August 11 through August 31 to calculate the average net asset value for the defined period.
To view the average net asset calculation:
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