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Which of the following is not true of the management expense ratio? It tends to be higher for equity funds than for money market and

image text in transcribed Which of the following is not true of the management expense ratio? It tends to be higher for equity funds than for money market and index funds. It is lower than the management fees. It excludes trading and brokerage costs. It is expressed as a percentage of the fund's average net asset value for the year

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