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Gross' performance may not be astonishing right now, but he remains a smart guy whose letters don't revolve around market bets but focus instead on ways to think about market trends.
In other words, I would not care too much about fees or gross performance.
Institutional investors use gross performance because they typically negotiate the fees they're going to pay.
Second, institutional investors routinely request gross performance presentations in requests for proposals.
Another reason institutional investors like gross performance numbers is it lets them compare managers without the distortion that fees create.
My guess is that institutional investors ask for gross performance because they oftentimes like to negotiate on the fees.
Similar(42)
Underneath his silly and sometimes gross performances of douchery is a nerd who is just trying to survive in a cutthroat environment.
Caroline Gulliver at Execution Noble, said: Debenhams' trading update was broadly positive, with weaker sales offset by better gross margin performance.
This week is also critically important to gross margin performance for the quarter.
The analyst also expects EBITDA margins to widen in 2016, to 23.4%, from 23.2% in 2015, on improved gross margin performance, restructuring savings, and more efficient marketing spending.
These year-on-year and sequential changes resulted, in addition to the factors described below, from the proportionate allocation of operating expenses being impacted by the relative mix of sales and gross profit performance between Mobile Phones and Smart Devices.
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