When calculating a fee, Atlas will look at the Billable Balance for a given account. Atlas will first review the billable balance data from the custodian. If there is an asset adjustment in place, it will take the adjustment into consideration and update the billable balance reflected.
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For exclusions, Atlas will review all positions that are being excluded and subtract those values from the billable balance.
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For inclusions, Atlas will review all positions that are being included and calculate the billable balance based on the value of those positions.
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