I keep looking at the returns that money managers provide to
investors, and perhaps I am lazy or just too old to know where to look but are
the published returns before or after the fees are paid? The articles in the
journals, or Morningstar, or even the actual prospectus may state the fees, but
seldom indicates whether or not the returns vs. benchmark include the fees extracted. Any common approach or terminology I should
know? Guidance please….
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