I have found someone else’s summary, but still have a few doubts (underlined). Can somebody please help me clarify? Thanks!
GIPS: gross (but net recommended)
Real Estate: gross or net (but deduct transaction fees for both)
Real Estate Closed End Fund: net (but deduct transaction fees)
Private Equity: gross and net (but deduct transaction fees for both)
Private Equity FOF: gross of investment management fees but net of partnership/fund/expense fees & carried int) (Isn’t carried int part of investment management fees?)
SMA: net of entire bundled/wrap fee (unless direct trading expenses can be identified)
AMC: gross and net (like Private Equity)
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