The total fees paid to the fund’s investment managers during the year, where New Fund’s expense ratio was 1.1% and management fee was 7%, and to calculate the administrative expenses. Introduction: Investment manager is the manager who handles investment portfolios and administrative expenses are expenses which are acquired by the firm.

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Chapter 4, Problem 17PS

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To calculate: The total fees paid to the fund’s investment managers during the year, where New Fund’s expense ratio was 1.1% and management fee was 7%, and to calculate the administrative expenses.

Introduction:Investment manager is the manager who handles investment portfolios and administrative expenses are expenses which are acquired by the firm.

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