周同学2019-03-03 00:18:32

a hedge fund has the following fee structure annual management fee based on year-end AUM 2% incentive fee 20% hurdle rate before incentive fee collection starts 4% current high-water mark 610 million the fund has a value of $ 583.1 million at the beginning of the year.after one year,it has a value of $642 million before fees.the net return to an investor for this year is closest to A 6.72% B 6.80% C 7.64 老师，high water 这块的计算没理解，为什么要610*（1+4%），为什么还要是1+4%