NO.PZ202206140600000303
问题如下：
Using Exhibits 1 and 2, the manager who earned the highest fee in Year 2 is:选项：
A.ABC. B.DEF. C.GHK.解释：
Solution
C is correct. GHK earns a sharing fee of 20% of its 6.0% active return for positive performance above the 1% base, for a total of 2.2%. This fee is higher than the other manager fees, as shown in the following table:
A is incorrect. ABC earns 1.85%, which is below the fees earned by the other managers.
B is incorrect. DEF earns its base fee of 2.0%, but this fee is less than the 2.2% earned by GHK.
GHK 基金的收益也是负的，按说是没有performance fee的啊，这个不是跟第二个基金DEF一样的吗？ 只是因为比benchmark表现的稍微好点，因为benchmark表现的更烂？ 我记得老师好像讲过，这个是属于起点的问题啊？ 能收激励费的起点是必须是正的收益才行啊？
