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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 SalvioKudoZ activityQuestions: 214 (none open) ( 11 closed without grading) Answers: 154
| | Local time: 10:58
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| | 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: 01:58
| 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!
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| Changes made by editors |
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| Aug 26, 2008 - Changes made by Steffen Walter: | | Term asked | Rétrocessions => rétrocessions |
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