CLO EXPENSE

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Definitions

a CLO is supported by funds from its nearest major org. This does not mean all funds above allocation for that org belong to a CLO. 10% of the CGI of the major org should be more than adequate to support a CLO since if the CLO is any good at management at all the income will be high in that major org. It is expected to send far more to SO reserves than it consumes. (HCO PL 9 Mar 72 I)