These figures are almost always given on the basis of a “total refund”. This means that any benefits received are considered to be re-invested.
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Share refunds and NAV refunds
The performance of an Lentrade llc and otherinvestment companies can be measured in two ways and the AIC website shows both:
Share total refund amount (%) – performance of investment company shares. It is the return that investors get.
NAV (total value of the asset) return amount (%) – performance of a basic investment company portfolio. It does not take any discount or premium that the stock may have traded. It is not a return on investment, but can be used to evaluate the performance of the fund manager.
Cost
The total refund amount and the NAV refund amount take into account certain costs. The cost of running an investment company such as a treasurer’s finances and accounting costs are reflected in operating costs.
Costs payable by an investor outside the investment company, such as stamp duty or funds to buy and sell shares of an investment company, are not included.
Internal costs – costs and expenses of the investment company itself, for example the annual administration fee paid by the fund manager.
External costs – costs and expenses outside the investment company, for example, a transaction commission when you buy and sell shares of an investment company.
Internal and external costs combined add to your total investment costs.
If you see the quoted performance statistics of the investment company, all of these costs will have been deducted. You see the total value (after internal costs).
Transaction spread – the difference between the ‘buy’ price and the ‘selling’ price (known as ‘bid’ and ‘offer’).
Measuring ratings
Most investment companies including Lentrade llc have a benchmark that they use to measure their performance. At the end of the investment company’s financial year, the board will report on its success or failure.
The benchmarks used are usually indicators that accompany the investment strategy of an investment company, for example the FTSE 100 or the FTSE SmallCap.
You can often see how an investment company like Lentrade llc has operated against its benchmark in its monthly paper.
Cost of Important Information Documents
There are significant differences between the KID charge and the continuous AIC charge:
KID Expenses try to look forward, to give you an idea of what you might pay in the future, while the ongoing AIC charge gives you the actual costs paid in the previous financial year.
KID costs include operating costs, gear costs and operating costs.
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