| http://www.w3.org/ns/prov#value | - The average commission paid by institutional investors is about 5 to 6 cents per share, but can range from 1 cent to 12 cents per share.25 A portion of these commissions may be used to obtain soft dollar benefits (i.e., research and other services as permitted by section 28(e) of the Securities Exchange Act of 1934) that may benefit the manager.
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