Quote:
quote:Originally posted by winner69
Wonder what the outperformance management fee is in this one ...... Kingfisher ones a quite high
Dilutes returns a lot but can't blame carmel and her friends taking as much as she can from willing punters
Another $100M to manage ..... another few mil to go into the coffers for them .... every year come good or bad
Quote:
quote:
Management Fee: 1.25% per annum of Gross Asset Value. For any particular financial year, the management fee will be reduced by 0.1% for every 1% underperformance relative to the change in the NZX 90 Day Bank Bill Index (subject to a 0.75% p.a. minimum).
Incentive Fee: The Manager will be paid 15% of excess returns over and above the Benchmark as a Performance Fee. 50% of the Performance Fee will be used to subscribe for new shares in Barramundi.
Benchmark: Changes in the NZX 90 Day Bank Bill Index plus 7% pa. For example, the year to 31 August 2006 the benchmark would have been 14.6% (7.6% plus 7%).
Nice work if you can get it.