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rétrocessions

English translation: distribution (and/or service) fees/fee expense

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:rétrocessions
English translation:distribution (and/or service) fees/fee expense
Entered by: Tamara Salvio
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14:46 Aug 26, 2008
French to English translations [PRO]
Bus/Financial - Accounting / financial statements - asset management co
French term or phrase: rétrocessions
This is the first item under "operating expenses" on this asset management company's income statement. The figure is quite high and I'm fairly sure it must have to do with paying fees or commissions it collects from investors on to third parties. Unfortunately, there are no explanatory notes or other mention of the term in the financial statements or the accompanying report.

I've explored the entries in the glossary and researched this to death, but I come up only with the term "retrocession" in English, which strikes me as inappropriate for this context. Any other ideas or is this a legitimate translation?
Tamara Salvio
United States
Local time: 08:50
distribution (and/or service) fees/fee expense
Explanation:
The reason you're having such trouble finding what they're called in English is that the 'fee-splitting' retrocession aspect is simply ignored. Fees that the fund management company pays to distributors and brokers are counted as marketing expenses. Similarly for 'shareholder service' fees if applicable.
Selected response from:

rkillings
United States
Local time: 08:50
Grading comment
Thanks rkillings, Yolanda and the rest for your help with this. Given the context, I chose to go with "distribution and service fee expense" which the client approved. Many thanks!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1retrocessionxxx::::::::::
4(royalty) splits; sell-downsxxxAdrian MM.
4distribution (and/or service) fees/fee expenserkillings
4special concessions
Yolanda Broad
3fee sharingBuzzy


  

Answers


10 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
retrocession


Explanation:
...used usually in insurance, or reconveyance or redemise, but all are rare anyway

reconveyance Definition - [ Traduire cette page ]reconveyance - definition of reconveyance - The transferring of a title back to its previous owner.
www.investorwords.com/4093/reconveyance.html - 24k - En cache - Pages similaires - À noter
Did The Title Company Record a Deed of Reconveyance at The Time of ... - [ Traduire cette page ]A Deed of Reconveyance is used in conjunction with a Deed of Trust and it's purpose is to clear the title of any liens pertaining to the Note and Deed of ...
www.escrowhelp.com/articles/20000519.html - 20k - En cache - Pages similaires - À noter
Reconveyance legal definition of Reconveyance. Reconveyance ... - [ Traduire cette page ]Definition of Reconveyance in the Ledal Dictionary - by Free online English dictionary and encyclopedia. What is Reconveyance? Meaning of Reconveyance as a ...
legal-dictionary.thefreedictionary.com/reconveyance - 28k - En cache - Pages similaires - À noter



--------------------------------------------------
Note added at 11 mins (2008-08-26 14:58:01 GMT)
--------------------------------------------------

Browse 1828 => Word REDEMISE :: Search the 1828 Noah Webster's ... - [ Traduire cette page ]Reconveyance; the transfer of an estate back to the person who has demised it; as the demise and redemise of an estate in fee simple, fee tail, ...
1828.mshaffer.com/d/word/redemise - 41k - En cache - Pages similaires - À noter
REDEMISE - [ Traduire cette page ]REDEMISE. Noun. 1. The transfer of an estate back to the person who demised it; reconveyance ... English words defined with "REDEMISE": Demise and redemise. ...
www.websters-online-dictionary.org/Re/Redemise.html - 23k - En cache - Pages similaires - À noter


xxx::::::::::
Iraq
Local time: 17:50
Native speaker of: Native in EnglishEnglish
PRO pts in category: 27

Peer comments on this answer (and responses from the answerer)
agree  margaret caulfield
27 mins
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13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
special concessions


Explanation:
From Termium and Le grand dictionnaire de la terminologie, for the *plural*, rétrocessions (Source, according to Termium, is the ISO):

"The currency code and the amount of commission, draw down or other reduction from or addition to the deal price"


    Reference: http://www.lgdt.com/btml/fra/r_motclef/index800_1.asp
Yolanda Broad
United States
Local time: 11:50
Native speaker of: English
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
distribution (and/or service) fees/fee expense


Explanation:
The reason you're having such trouble finding what they're called in English is that the 'fee-splitting' retrocession aspect is simply ignored. Fees that the fund management company pays to distributors and brokers are counted as marketing expenses. Similarly for 'shareholder service' fees if applicable.


    Reference: http://www.sec.gov/answers/mffees.htm
rkillings
United States
Local time: 08:50
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 393
Grading comment
Thanks rkillings, Yolanda and the rest for your help with this. Given the context, I chose to go with "distribution and service fee expense" which the client approved. Many thanks!
Login to enter a peer comment (or grade)

1 day17 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
fee sharing


Explanation:
I've seen this used for rétrocession but, of course, can't find the refs now...
A quick Google shows that you sometimes find "fee sharing and retrocessions", but I don't know if there's an important distinction between the two.

Buzzy
Local time: 17:50
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 58
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7 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
(royalty) splits; sell-downs


Explanation:
In the music business, they are called splits.

Commission-sharing is already in the glossaries.



Example sentence(s):
  • escrow, and conflicting claimants subject to existing royalty split agreements. A permit to drill was issued on. 1/19/05. Pooling was approved. ...

    Reference: http://www.wikiwords.org/dictionary/rétrocession/1194048/232...
    Reference: http://www.dmme.virginia.gov/DGO/Gas%20and%20Oil%20Board/Pas...
xxxAdrian MM.
Local time: 17:50
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 80
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Changes made by editors
Aug 26, 2008 - Changes made by Steffen Walter:
Term askedRétrocessions » rétrocessions


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