Full version — operating cost and investment-cost layer. This page is an API client: the calculation engine runs server-side only. Link-only access, not indexed, not listed anywhere.
| Asset class | Value | Mgmt & fund fees | Custody / Insurance | Firm cost |
|---|
Firm costs are identical in all three columns — they don't depend on returns. Only performance fees move. In a down year you pay the full cost and lose capital.