NISM 19D Alternative Investment Fund Managers Certification Exam Notes
Page 55 Of 141
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Operational Costs: Include audit, legal, and administrative expenses.
Performance Fee Timing: Paid at fund maturity or on realized gains.
Hurdle Rate Importance: Aligns manager and investor interests.
High-Water Mark Impact: Protects investors from paying fees on volatile returns.
Clawback Mechanism: Ensures equitable profit distribution over fund life.
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