The adviser will earn a 2% annual management fee on gross assets including cash and cash equivalents.
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The investment subsidiary also pays Apollo Advisors a management fee of 2% of gross assets--including the debt it borrows.
What is important, however, is that the amount of capital relative to gross assets that Vickers wanted for very big banks was significantly higher than the proposed new internationally agreed leverage backstop, enshrined in the Basel lll rules, of 3%.
An IMF paper calculates that even if the savings rate remains close to where it is now, gross debt may exceed gross household assets by 2015.
Proxies in place, the team dove into the data and came up with surprising results: Between 2002 and 2007 (the years covered by the database), public firms increased their gross fixed assets (as a percentage of total assets) by 4.0 percent a year on average versus 9.7 percent at similar private firms.
According to ICRA, the gross non performing assets ratios of state-run banks was stable at 2.4% for the first half of the fiscal year, while the same number for the State Bank of India Group rose to 4.3% from 4%.
Some of those gross sales of British assets could be British government bonds purchased by foreign central banks.
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The bank reported that its gross margin on invested assets at its wealth management business fell 4 basis points in the fourth quarter to 85 basis points.
Also (though Mr Cable does not make this very nerdy point), it's worth remembering that the government measure - net debt - is what you get when you subtract the government's assets from its gross liabilities (debt).
The BEA numbers show that the economy is not doing as good a job of converting gross investment into net increases in nonresidential assets as it used to.
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However, this is a net figure: the gross figures might be purchases of foreign assets of 10% of GDP, and sale of British assets of 4% of GDP.
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Those federal IOUs are rightly accounted for in federal finances not as assets but as part of the Gross Federal Debt, subject to the national debt limit.
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We believe that if the company continues the trend of strengthening its deepwater and ultra-deepwater assets, its average daily revenues per rig and the gross margins of its contract drilling business will be positively impacted going forward.
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Gifts of IRA assets often make sense if the donor doesn't itemize deductions, has few or no liquid assets outside the IRA, or is concerned about minimizing adjusted gross income.
Mr. Gross's portfolio has been heavily concentrated on high-quality U.S. assets this year, led by mortgage-backed securities and Treasury bonds.
While adding to the government's gross debt, they have not driven up the more closely watched figure for public debt, net of assets: at 42.7% of GDP, this is back to its level of mid-2008, and is much lower than the debt burdens of European countries.
For example, a politician is assigned a gross domestic product number but gets a low multiplier, while a foundation executive is assigned the foundation's assets but gets a high multiplier.
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