Fixed costs (such as rent or an audit fee) vary on a percentage basis because the lump sum rent/audit amount as a percentage will vary depending on the amount of assets a fund has acquired.
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For ten years if the investor holds the bond without any type of withdrawals and at the offered treasury bond interest rate, only then does he or she becomes eligible for their earnings from the companies that too for the money that are free from any type of taxes.
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2011: Brian Clarke: Works on Paper 1969-2011, Phillips de Pury, Saatchi Gallery, London.
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