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For example, if a group fixed expense is $1,000 a day the system allocates it is allocated based on the following formula.
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A variable expense calculates an expense using the system's variable expense tier structure and applies that to the group level net assets. It then distributes the accrued amount down to each participant entity within a group based on the fund's % of net assets as shown in the fixed expense example.
You can set up a group expense to accrue and allocate that expense on either a daily basis or a monthly basis. You can define a minimum and maximum fee amount for the system to apply at the participant fund level or at the group level during processing. If you define a group fixed expense on a monthly basis, the system can spread the monthly expense amount across the days in the month for the expense group.
WRITERS NOTE: last paragraph is NEW