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粉红豹 · 2020年02月17日

问一道题:NO.PZ201909300100002403

* 问题详情,请 查看题干

问题如下:

3 Based on Exhibit 1 and Exhibit 2, the Yellow Wood Fund’s 2016 investment management fee is:

选项:

A.

3.00%

B.

4.20%

C.

4.50%

解释:

B is correct.

The fund’s fee schedule includes a base fee of 1.50% and a 20% performance-based fee. The performance-based fee is applied after the base fee is deducted. The total fee is calculated as follows:
1.5% + [20% × (15% – 1.5%)] = 4.20%

从题目中什么信息知道,是根据“正的收益”就可以拿incentive?而不是对“超过benchmark的active return”部分才拿incentive?

如果是后者,那么列式:1.5% + [20%×(15%-14%-1.5%)] = 1.4% 呀

 

1 个答案

星星_品职助教 · 2020年02月18日

同学你好,

如果是对超出部分才给incentive的话,题干中会明确一个hurdle rate,hurdle rate也不一定就必须设成是benchmark的return。

如果题干中没特意提就按照没有hurdle rate处理。