Maybe stupid/basic question..but does anyone know on Managed Accounts, (brandes etc) how quarterly fees are calculated. On Q-4 are they computed on ending assets value on 12-31 or some other way..thanks in advance.
Fees are paid in advance, so Q4 fee would be based on Sept. 30 balance.
I got that, but guess you are saying fee's in 1st quarter (2009)would be on ending value on 12-31 right? For some reason alway though it was monthly average and divided by each month for the next quarter.