PERFORMANCE ADJUSTMENT EXAMPLE Sample Clauses
PERFORMANCE ADJUSTMENT EXAMPLE. The following example illustrates the application of the Performance Adjustment: For the rolling 12-month Fund's investment Index's Fund's performance performance period performance cumulative change relative to the Index ------------------ ----------- ----------------- --------------------- January 1 $50.00 100.00 December 31 $55.25 110.20 Absolute change + $ 5.25 +$ 10.20 Actual change + 10.50% + 10.20% +0.30% Based on these assumptions, the Fund calculates the Adviser's management fee rate for the month-ended December 31 as follows: o The portion of the annual basic fee rate of 0.70% applicable to that month is multiplied by the Fund's average daily net assets for the month. This results in the dollar amount of the basic fee. o The +0.30% difference between the performance of the Fund and the record of the Index is divided by 3.75, producing a rate of 0.08%. o The 0.08% rate (adjusted for the number of days in the month) is multiplied by the Fund's average daily net assets for the performance period. This results in the dollar amount of the performance adjustment. o The dollar amount of the performance adjustment is added to the dollar amount of the basic fee, producing the adjusted management fee.
PERFORMANCE ADJUSTMENT EXAMPLE. The following example illustrates the application of the Performance Adjustment: January 1 $ 50.00 100.00 December 31 $ 55.25 110.20 Absolute change $ +5.25 $ +10.20 Actual change +10.50 % +10.20 % +0.30 % Based on these assumptions, the Fund calculates the Adviser’s management fee rate for the month-ended December 31 as follows: · The portion of the annual basic fee rate of 0.70% applicable to that month is multiplied by the Fund’s average daily net assets for the month. This results in the dollar amount of the basic fee. · The +0.30% difference between the performance of the Fund and the record of the Index is divided by 3.75, producing a rate of 0.08%. · The 0.08% rate (adjusted for the number of days in the month) is multiplied by the Fund’s average daily net assets for the performance period. This results in the dollar amount of the performance adjustment. · The dollar amount of the performance adjustment is added to the dollar amount of the basic fee, producing the adjusted management fee.
PERFORMANCE ADJUSTMENT EXAMPLE. The following example illustrates the application of the Performance Adjustment: Based on these assumptions, the Fund calculates the Adviser's management fee rate for the month-ended December 31 as follows: - The portion of the annual basic fee rate of 0.70% applicable to that month is multiplied by the Fund's average daily net assets for the month. This results in the dollar amount of the basic fee. - The +0.30% difference between the performance of the Fund and the record of the Index is divided by 3.75, producing a rate of 0.08%. - The 0.08% rate (adjusted for the number of days in the month) is multiplied by the Fund's average daily net assets for the performance period. This results in the dollar amount of the performance adjustment. - The dollar amount of the performance adjustment is added to the dollar amount of the basic fee, producing the adjusted management fee.
PERFORMANCE ADJUSTMENT EXAMPLE. The following example illustrates the application of the Performance Adjustment:
PERFORMANCE ADJUSTMENT EXAMPLE. The following example illustrates the application of the Performance Adjustment: FUND'S INDEX'S FUND'S FOR THE ROLLING 12-MONTH INVESTMENT CUMULATIVE PERFORMANCE RELATIVE PERFORMANCE PERIOD PERFORMANCE CHANGE TO THE INDEX ------------------ ----------- ------ ------------ January 1 $50.00 100.00 December 31 $55.25 110.20 Absolute change +$5.25 +$10.20 Actual change +10.50% + 10.20% +0.30% Based on these assumptions, the Multi-Cap Core Equity Fund calculates the Adviser's management fee rate for the month-ended December 31 as follows: o The portion of the annual basic fee rate of 0.70% applicable to that month is multiplied by the Fund's average daily net assets for the month. This results in the dollar amount of the basic fee. o The +0.30% difference between the performance of the Fund and the record of the Index is divided by 3.75, producing a rate of 0.08%. o The 0.08% rate (adjusted for the number of days in the month) is multiplied by the Fund's average daily net assets for the performance period. This results in the dollar amount of the performance adjustment. o The dollar amount of the performance adjustment is added to the dollar amount of the basic fee, producing the adjusted management fee.