Cost ratio
Under the old Dutch Investment Institutions Supervision Act (Wtb), which has now been subsumed into the WFT referred to above, investment institutions are required to disclose their cost ratios. This requirement was introduced to ensure the availability of clear and comparable information on cost levels. With effect from 2006 and in compliance with the Further Rules for Supervision of the Market Conduct of Investment Institutions (Nadere Regeling gedragstoezicht financiële ondernemingen Wft), issued by the Dutch regulator the Netherlands Authority for the Financial Markets (AFM), the cost ratio is total costs (property operating expenses, general expenses and taxes), excluding interest charges, as a percentage of the weighted average net asset value for the past five quarters. Corio’s cost ratio for 2008 was 2.23%, the same as in 2007.
Source: Annual Report 2008, Chapter Overview & Strategy, page 26 (PDF, 476 kB)
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