"From 1986 to 2005, the annual administration expense on per head increased 23 times, while GDP increased only 14."6 times.
从1986年到2005年,我国人均负担的年度行政管理费用增长23倍,而同期GDP增长了14.6倍。
3
A fund incurs brokerage costs when it buys and sells securities. These costs are not included in the expense ratio, but separately listed in annual reports or statement of additional information.