CFA三级GIPS官网模拟题的第5题B项，为什么net-of-fee return是required而gross-of-fee return是recommended?
Shimin_CPA税法主讲、CFA教研 · 2018年05月17日
答案是这么写的：Firms are required to present either net-of-fees performance or gross-of-fees performance.这句话与GIPS正文完全符合，在条款5.A.1(b)。 也就是net-of-fee return和gross-of-fee return两者必须披露其中一个。答案后面解释If one or the other is presented, then it is recommended that the remaining also be presented. For example, if net-of-fees performance is disclosed, then it is recommended that gross-of-fees performance also be disclosed.说的是如果一个已经披露了，那另一个是推荐披露的。
