{
  "tool_id": "art-375-compute-fund-expense-ratios",
  "tool_version": "1.0.0",
  "display_name": "Compute Fund Expense Ratios",
  "mcp_name": "compute_fund_expense_ratios",
  "mandate_type": "attestation_mandate",
  "wave": 51,
  "gpu": false,
  "url": "https://ainumbers.co/chaingraph/art-375-compute-fund-expense-ratios.html",
  "description": "Computes a fund's gross and net expense ratios and Total Expense Ratio (TER) from SUPPLIED gross expense components (flat amounts or accruals, using the identical accrual conventions as recompute_fund_nav/FN-1) and average net assets, applying any declared fee waivers/caps strictly in a DECLARED order using fixed-point BigInt money math throughout (no float accumulation). Waiver ordering is the substance: the order in which fixed-dollar caps, percent-of-remaining reimbursements, and rate caps apply changes the net expense ratio, so the order is a required declared input, never a house convention, and every waiver's running-balance effect is returned for audit. HARD FENCE: every expense component, average-net-assets figure, and waiver term is supplied and asserted, never fetched (zero-egress); this recomputes the arithmetic over declared inputs and attests THAT, never an opinion on expense accuracy and never a compliance determination. Third entry of the Funds/NAV family (nav-verification-pack) alongside recompute_fund_nav (FN-1) and test_nav_error_materiality (FN-2). 40-Act/UCITS citations informative only.",
  "input_schema_ref": "chaingraph/art-375-compute-fund-expense-ratios.html#manifest",
  "deadline": null,
  "deadline_note": "No statutory deadline; fund expense-ratio computation is a continuous fund-operations control, not a periodic filing.",
  "consumes": [],
  "feeds": [],
  "status": "live",
  "conformance_fixtures": true,
  "compute_capability": "server",
  "compute_images": [{"system":"sha256-source","image_id":"sha256:21e7330a4b9eb3f27ddcd9bbe5fb4dcf6e3143f9aa9c05faea150bb6c5a2c1c1","valid_from":"2026-07-10"},{"system":"risc0","image_id":"sha256:a1a0bc89b5b1febaeda3519f6dbade0fa5ac16beeb143c4e1b01689573567bc6","valid_from":"2026-07-19"}],
  "export_capability": [
    "pdf",
    "xlsx"
  ],
  "compute_proof_ready": "ready",
  "compute_proof": {"type":"ZkVmReceipt","system":"risc0","receiptFormat":"groth16-bn254","imageId":"sha256:a1a0bc89b5b1febaeda3519f6dbade0fa5ac16beeb143c4e1b01689573567bc6","seal":"AD79WIrGYupI3KJdrqsKn0MD6/h3VKVle6vjF5DNGoAd1LrCyIR4Y3IqZJdcu74utaz6xOhqbCLulXbWEtS0sh8K0QaHm35UVGtte4vrDkiosV1USc4ig2r4eQNqRrQhI1Wd10v1NoGO6nXVBxCRhgJ8cXkPY+LNhzbdtbde5CsG6ROu847XJT4j9B9++/Xo4dlvMPHvW17ojE0AynlgeAZ0jS0E8MwkB+vYOAlNoQepcBbSfWSPbFbl3NprfDoQBrtgzHVtpLYpDtdsuL+U9FgIFO6sfLVEtOnx73Wp9E8tyDkwuoHkQFLiSOPETQ+DY1SuZqoYGSmpzWrLsSMENA==","journal":{"chaingraph_version":"0.4.0","kernel_digest":"sha256:21e7330a4b9eb3f27ddcd9bbe5fb4dcf6e3143f9aa9c05faea150bb6c5a2c1c1","output":{"components":{"average_net_assets":"100000000.00000000","gross_expense_components":[{"amount":"750000.00000000","day_count_convention":"actual/365","description":"management fee"},{"amount":"150000.00000000","day_count_convention":null,"description":"admin fee"},{"amount":"100000.00000000","day_count_convention":null,"description":"12b-1 fee"}],"gross_expense_total":"1000000.00000000","net_expense_total":"1000000.00000000","waivers_applied":[]},"fence":"Expense components, average net assets, and waiver terms are SUPPLIED, asserted, and digested into this receipt. This kernel recomputes the ARITHMETIC over those declared inputs, applying waivers strictly in the DECLARED order, and attests THAT — never an opinion on expense accuracy, never a compliance determination.","fund_id":"FUND-EXP-01","gross_expense_ratio":"0.0100","net_expense_ratio":"0.0100","not_proven":[{"detail":"Every gross expense component, average-net-assets figure, and waiver term is caller-supplied and asserted. This kernel performs no fund-administrator or market-data lookups (zero-egress) and does not verify these figures against any external source.","item":"Expense accuracy"},{"detail":"This kernel applies declared waiver terms arithmetically in the declared order. It makes no judgment on whether a waiver is contractually valid, economically reasonable, or permitted under a fund's governing documents.","item":"Waiver economic substance / permissibility"},{"detail":"40-Act/UCITS references are informative context only; this kernel makes no claim of compliance with either framework's expense-ratio disclosure or filing rules.","item":"Regulatory NAV/expense filing compliance"},{"detail":"TER here equals the gross expense ratio over the declared gross_expense_components. If acquired-fund fees, transaction costs, or other components belong in a fund's reported TER, they must be declared as gross_expense_components — this kernel cannot infer omissions.","item":"Total Expense Ratio scope completeness"}],"period_end":"2026-12-31","period_start":"2026-01-01","regulatory_framework":"40-Act/UCITS expense-ratio disclosure conventions referenced as informative context only; this kernel makes no compliance claim under either framework.","rounding":{"decimal_places":4,"mode":"half_up"},"structural_error":null,"total_expense_ratio":"0.0100"}}}
}