Considering the following information for a hedge fund: Assuming the fund does not have deposits or withdrawals during the year. Management fees are based on the end-of-period valuation. Management fees and incentive fees are calculated independently. Please calculate the net-of-fees return of the investor: 这个题中奖金为什么直接用20乘以5%

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刘同学2020-02-02 15:09:02

Considering the following information for a hedge fund: Assuming the fund does not have deposits or withdrawals during the year. Management fees are based on the end-of-period valuation. Management fees and incentive fees are calculated independently. Please calculate the net-of-fees return of the investor: 这个题中奖金为什么直接用20乘以5%

Hedge fund fees, valuation and due diligence、Hedge fund fees, valuation and due diligence 查看试题

回答（1）

Vicky2020-02-02 17:19:22

同学你好，
Incentive fee: 10% of $20 million = $2 million.
1.由于Management fees and incentive fees are calculated independently. 管理费和奖励费分别计算是不需要在算奖励费的时候扣除管理费的。
如果题目中是net of management fee则是需要扣除的。
2.这里的hurdle rate是soft hurdle rate。因此不需要扣除，如果是hard hurdle rate。则需要扣除。