...
The variable expense uses a tier rule shown in the following table.
Tier ID | Lower Bound | Upper Bound | Fee Tier Percent Rate |
|---|---|---|---|
TIERRULE10 | 0.00000000 | 5,000,000.00000000 | 0.03000000 |
TIERRULE10 | 5,000,000.01000000 | 10,000,000.00000000 | 0.02500000 |
TIERRULE10 | 10,000,000.01000000 | 0.00000000 | 0.02250000 |
You set up the variable expense to have a NAV component of prior night assets and you include the adjusted NAV expense rule on the variable expense setup.
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Using this tier rule, the system calculates the variable expense as shown in the following table.
Tier ID | Lower Bound | Upper Bound | Fee Tier Percent Rate | NAV Amount | Expense Amount |
|---|---|---|---|---|---|
TIERRULE10 | 0.00000000 | 1,500,000.00000000 | 0.03000000 | 1,500,000.00000000 | 123.29 |
TIERRULE10 | 1,500,000.01000000 | 5,000,000.00000000 | 0.02750000 | 3,499,999.99000000 | 263.70 |
TIERRULE10 | 5,000,000.01000000 | 10,000,000.00000000 | 0.02500000 | 307,499.99000000 | 21.06 |
5,307,499.98000000 | 408.05 |