In the following assumption fee example, you set an Expense Limit/Cap of 0.0045 for Total Fund and you select Advisor/Management Fees as the expense to waive.
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If the fund is set up for special waiver recoupment, the Total Fund Net Asset amount of $100,000,000 is multiplied by the Contract Cap of 0.0055 and divided by the 366 days in the year to produce a recoupment cap of $1,502.73. The daily gross expense amount of $2,866.12 is greater than the recoupment cap of $1,502.73, so the system saves the $1,363.39 amount over cap to the recoupment table for future use.
Total Fund NAV | 100,000,000.00 | Number of Days in Year | 366 |
Total Fund Expenses | |||
ADVISORY/MANAGEMENT FEES | 1,366.12 | ||
OTHER EXPENSES | 1,500.00 | ||
Gross Expenses | 2,866.12 | ||
Expense Limit/Cap | 0.0045 | Contract Cap | 0.0055 |
Expense Cap | 1,229.51 | Recoupment Cap | 1,502.73 |
Expense Over Cap | 1,636.61 | Recoupment Over Cap | 1,363.39 |
ADVISORY/MANAGEMENT FEES | 1,366.12 | ||
Remaining Amount | 270.49 | ||
ASSUMPTION FEE | 270.49 | ||
Remaining Amount | |||
ADVISORY/MANAGEMENT FEES | 1,366.12 | ||
ASSUMPTION FEE | 270.49 | ||
Total Waivers | 1,636.61 |