User Guide

)0
3URJUDPPLQJ2SHUDWRUV
(QJOLVK±
(1*/,6+
)UHTXHQF\5DWLRDQG2IIVHW
)UHTXHQF\5DWLR
GHILQHVWKHPDWKHPDWLFDOUHODWLRQVKLSRIWKHRSHUD
WRUIUHTXHQF\FRPSDUHGWRWKHIXQGDPHQWDOIUHTXHQF\RIWKHQRWHEH
LQJSOD\HGPHDQVWKHRSHUDWRULVWKHVDPHSLWFKDVWKH
IXQGDPHQWDOVHWVWKHRSHUDWRUWRWKHVHFRQGKDUPRQLFRFWDYH
KLJKHULVWKHWKLUGKDUPRQLFRFWDYHILIWKHWFLVWKH
VXEKDUPRQLFRQHRFWDYHEHORZWKHIXQGDPHQWDO
7KHQXPHULFDOVDUHHGLWHGDVDQ\RWKHUQXPHULFDOV7KHDUURZVDERYH
DQGEHORZHDFKQXPHULFDODOORZLQFUHPHQWLQJXSDUURZRUGHFUH
PHQWLQJORZHUDUURZRQHYDOXHDWDWLPH
:KHQWKH5DWLRLVQRWDQH[DFWLQWHJHUHJWKHQWKHRSHUDWRU
LVGHWXQHGDQGZLOOEHDWDJDLQVWRWKHURSHUDWRUV7KHEHDWIUHTXHQF\
ULVHVLIWKHQRWHSLWFKLQFUHDVHVDQGIDOOVLIWKHQRWHSLWFKGHFUHDVHV
)UHTXHQF\2IIVHW
DSSOLHVDFRQVWDQWIUHTXHQF\RIIVHWLQ+]WRWKH
RSHUDWRUWRFDXVHGHWXQLQJDQGEHDWLQJDJDLQVWRWKHURSHUDWRUV7KLVLV
FRQVWDQWUHJDUGOHVVRISLWFK([DPSOHD+]2IIVHWFDXVHVEHDWLQJDW
H[DFWO\+]EHWZHHQWKHVHOHFWHGRSHUDWRUDQGDQRWKHURSHUDWRUZLWK
QRRIIVHW
2XWSXW9HO R FLW\DQG(QYHORSH5DWH&RQWUROV