Ratio that relates the total expenses borne by an investment fund in a period with the average equity figure. Total expenses include management and depositary fees, external services and other operating expenses. This data, expressed as a percentage, is important for the investor because it allows knowing the level of expenses that an investment fund supports and comparing it with other similar funds. It is published in an annex to the simplified prospectus and in the periodic reports that are sent to partners and unit-holders.
Origin: CNMV