开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

cenwandada · 2024年04月19日

可以解释一下这四个回答吗

NO.PZ2023091802000011

问题如下:

An analyst at an investment firm is researching thefee structures at several hedge funds. The analyst notes that, in the past,incentive fees strongly favored hedge fund managers to the disadvantage ofinvestors in the hedge funds, causing investors to be reluctant to invest inthem. Many hedge funds have recently adjusted the terms they offer to attractnew investors. Which of the following correctly describes one of theseadjustments to the fee structure?

选项:

A.

A high-water mark clause states that incentive fees will only be paid when returns are above a certain percentage return each year.

B.

A hurdle rate states that incentive fees will only be paid when cumulative investor profits are positive and are above a specified amount.

C.

A clawback clause provides a mechanism for investors to reclaim incentive fees that have already been paid.

D.

A proportional adjustment clause provides a mechanism to raise the hurdle rate as the hedge fund generates more profits.

解释:

C is correct. A clawback clause is used to create a mechanismwhereby investors can reclaim incentive fees that have already been paid if thehedge fund suffers losses in subsequent years.

A is incorrect. This is the description of a hurdle rate.

B is incorrect. A high-water mark clause states that incentive feeswill only be paid when cumulative investor profits are positive.

D is incorrect. A proportional adjustment clause states that thehigh-water mark only applies to funds that are not withdrawn.

可以解释一下这四个回答吗,不是特别明白

1 个答案

品职答疑小助手雍 · 2024年04月19日

同学你好,这题就是把基金的收费结构条款混着出了选项,正确的定义如下,根据正确的定义组合即可。

hurdle rate:只有当每年的回报率超过一定百分比时,才会支付激励费。

high-water mark:只有在累计投资者利润为正值时,才会支付激励费。

clawback:如果对冲基金在接下来的几年遭受亏损,投资者可以收回已经支付的激励费

proportional adjustment:比例调整条款规定,高水位线仅适用于未提取的资金。

  • 1

    回答
  • 0

    关注
  • 245

    浏览
相关问题