Multiple choice1 / 25
A fund has a prior peak NAV of million. After falling to million, it recovers to million by year-end. Under a high-water mark provision, what performance fee treatment is correct?
A fund has a prior peak NAV of 150 million. After falling to 110 million, it recovers to 145 million by year-end. Under a high-water mark provision, what performance fee treatment is correct?