Fee-Paying Assets definition
Fee-Paying Assets means the NAV (before any accrued Performance Fee) attributable to Fee-Paying Shares.
Fee-Paying Assets means the Net Asset Value (before any accrued performance fee or incentive allocation) attributable to our fee-paying shares or interests or the fee-paying shares or interests of any Other Fund, respectively. We believe that this measure provides useful information to investors about the size of our net assets and the net assets of the Other Funds that are subject to fees payable to the Investment Manager. As further described in this Listing Particulars, we also benefit from a performance fee reduction calculated based on the incentive allocation and performance fees earned by the Investment Manager with respect to the Other Funds, which depends on the size of the Fee- Paying Assets of the Other Funds. Prospective investors in the Notes should note that: