High Watermark definition
High Watermark means the highest closing Net Asset Value per Share on which a Performance Fee was paid for all the previous periods since inception or the initial offer price in the case of the first Calculation Period.
High Watermark means, for each relevant Share Class, the highest NAV attained by that Share Class being either the (i) Initial Offer Price; or (ii) the NAV on any subsequent December 31st in relation to which a performance fee was crystallised and paid. When a subscription is made, the High Watermark is adjusted upwards by the amount of the subscription for that Share Class, when a redemption is made, the High Watermark is adjusted downwards by the amount of the change in NAV for that Share Class and when a distribution is made, the High Watermark is adjusted downwards by the amount of the distribution for that Share Class.
High Watermark means a benchmark the highest increase of the Value of the Client’s Portfolio, used by the Portfolio Manager to set requirements for the Performance Fee. Hurdle Rate means the reference rate of return on your portfolio under the Agreement on which no Portfolio Management Fee is charged.
Examples of High Watermark in a sentence
The High Watermark feature provides a way to protect gains made during the current trading session by limiting how much of those profits can be given back to the market if losses begin to mount.
Indicative Success Fees to pay may change as the value of open positions rises or falls (High Watermark principle).
There is also a way (High Watermark) to protect gains made during the current trading session by limiting how much of those profits can be given back to the market if losses begin to mount.
For the avoidance of doubt, the Investment Manager shall be entitled to a performance fee if and only if “A” in the formula exceeds the High Watermark “B”.
High Watermark profit is the last value of the account by which the fund had paid for the Trader.
More Definitions of High Watermark
High Watermark means an amount initially equal to zero as of the February 1, 2013 effective date of the Existing Management Agreement, as adjusted pursuant to the terms thereof and as the same may be further adjusted as provided herein. If in any fiscal quarter the product of the Equity Amount and the lesser of the F▇▇▇▇▇ M▇▇ MBS Yield and 8% exceeds the Return, the High Watermark shall be increased by the amount of such excess (the “High Watermark Rise”), and thereafter, the High Watermark shall be adjusted each fiscal quarter as follows: (a) if there is a High Watermark Rise for such fiscal quarter, the High Watermark shall be increased by the amount of such High Watermark Rise and (b) if the Return exceeds the product of the Equity Amount and the lesser of the F▇▇▇▇▇ Mae MBS Yield and 8% for such fiscal quarter, the High Watermark shall be decreased by the amount of such excess; provided that if in any fiscal quarter the Incentive Fee is greater than or equal to zero, the High Watermark shall be reset to zero.
High Watermark means the Net Asset Value per Share (after deduction for any Performance Fee) as of such Dealing Day when a new Performance Fee was crystalized last time.
High Watermark means an amount initially equal to zero as of February 1, 2013, as adjusted pursuant to the terms of the Existing Management Agreement and as the same may be further adjusted as provided herein. If in any fiscal year the product of the Common Shareholder’s Equity and the lesser of the Fannie Mae MBS Yield and 8% exceeds the Return, the High Watermark shall be increased by the amount of such excess (the “High Watermark Increase”), and thereafter, the High Watermark shall be adjusted each fiscal year as follows: (a) if there is a High Watermark Increase for such fiscal year, the High Watermark shall be increased by the amount of such High Watermark Increase and (b) if the Return exceeds the product of the Common Shareholder’s Equity and the lesser of the Fannie Mae MBS Yield and 8% for such fiscal year (the “High Watermark Decrease”), the High Watermark shall be decreased by the amount of the High Watermark Decrease; provided that the High Watermark shall be calculated based only on the High Watermark Increases and High Watermark Decreases from the two (2) fiscal years, on a rolling basis, prior to the fiscal year for which the Incentive Fee is calculated; and, provided further, the High Watermark shall never be less than zero after including all High Watermark Increases and High Watermark Decreases over any such rolling two
High Watermark means an amount initially equal to zero. If in any fiscal quarter the product of the Equity Amount and the lesser of the ▇▇▇▇▇▇ ▇▇▇ MBS Yield and 8% exceeds the Return, the High Watermark shall be increased by the amount of such excess (the “High Watermark Rise”), and thereafter, the High Watermark shall be adjusted each fiscal quarter as follows: (a) if there is a High Watermark Rise for such fiscal quarter, the High Watermark shall be increased by the amount of such High Watermark Rise and (b) if the Return exceeds the product of the Equity Amount and the lesser of the ▇▇▇▇▇▇ Mae MBS Yield and 8% for such fiscal quarter, the High Watermark shall be decreased by the amount of such excess; provided that if in any fiscal quarter the Incentive Fee is greater than or equal to zero, the High Watermark shall be reset to zero.
High Watermark means, at any time, the higher of: (i) the Issuance Price, and (ii) the closing NAV per Share registered in the last period in which the Return of the Financial Instruments was paid (excluding the effect of any other issuance during the relevant period).
High Watermark. ’ means the Performance Share Price in respect of the last Accounting Period in respect of which a Performance Fee was payable by the Company;
High Watermark means the net asset Value per Share (after deduction for any performance Fee) as of such dealing day when a performance Fee was paid last time, provided that the High Watermark may be adjusted at year end to take into account the reduction of the amount of performance Fee paid due to the Sub-fund charge cap.