High-water Mark - Breaking Down Finance

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A hedge fund's high-water mark (HWM) ensures that the performance fee is only charged on new profits. Using an Excel spreadsheet, we illustrate how the

High-Water Mark: What It Means in Finance, With Examples

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Hurdle rate should be High-water-mark * (1+ rate) or AUM_t-1*(1+ rate)? Level 1 : r/CFA