Net Trading Profits definition

Net Trading Profits means the excess, if any, of net Assets at the end of the period over Net Assets at the end of the highest previous period or Net Assets at the date trading commences, whichever is higher, and as further adjusted to eliminate the effect on Net Assets resulting from new Capital Contributions, redemptions or capital distributions, if any, made during the period decreased by interest or other income, not directly related to trading activity, earned on Program assets during the period, whether the assets are held separately or in margin account.
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Net Trading Profits shall be computed as of each Performance Fee Measurement Date and shall include such profits (as outlined below) since the Trading Advisor’s management of the Trading Fund (the “Performance Fee Measurement Period”). Net Trading Profits for any Performance Fee Measurement Period shall be the net profits, if any, from the Trading Advisor’s trading (including (i) cumulative gross realized trading profit (loss) plus or minus (ii) the change in unrealized trading profit (loss) on open positions, minus (iii) the fees charged to the Trading Fund by the Sponsor for brokerage commissions, exchange fees, NFA fees, give-up fees and other transaction-related fees and expenses charged in connection with the Trading Fund’s trading activities plus any futures commission merchant fee (for the avoidance of doubt, the Sponsor’s Fee, placement or ongoing sale commission charges, and the ongoing fees for certain administrative services shall not be subtracted for the purposes of this calculation) and shall be calculated after deduction of the Trading Advisor’s Management Fee, but before deduction of any Performance Fees paid or payable to date. Performance Fees paid prior to the current Performance Fee Measurement Date shall not reduce Net Trading Profits.
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Net Trading Profits shall be computed as of each Performance Fee Measurement Date and shall include such profits attributable to each Series (as outlined below) since the Trading Advisor began trading for such Series (the “Performance Fee Measurement Period”). Net Trading Profits for any Performance Fee Measurement Period shall be the net profits attributable to each Series, if any, from the Trading Advisor’s trading (including (i) cumulative gross realized trading profit (or loss) plus or minus (ii) the change in unrealized trading profit (or loss) on open positions, minus such Series’ pro rata portion of (iii) transaction-related fees and expenses including brokerage commission, exchange fees, NFA fees and give-up fees, minus (iv) such Series’ share of the Management Fee. Performance Fees do not reduce cumulative Net Trading Profits. In addition, with respect to the Aspect CS Series, organizational and initial offering costs, Placement Fees, ongoing Sales Commissions, Service Provider Fees , operating expenses of the Aspect CS Series not covered by the Service Provider Fees and Sponsor’s Fees do not reduce cumulative Net Trading Profits. With respect to the Aspect Series, organizational and initial offering costs, Placement Fees, Administration Fees, ongoing Sales Commissions and operating expenses of the Aspect Series do not reduce cumulative Net Trading Profits. Interest income or expense is not taken into account in calculating Net Trading Profits for the Aspect Series.
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Examples of Net Trading Profits in a sentence

  • In calculating New High Net Trading Profits, incentive fees paid for a previous Incentive Measurement Period will not reduce cumulative New High Net Trading Profits in subsequent periods.

  • Except as set forth below, net losses from prior quarters must be recouped before New High Net Trading Profits can again be generated.

  • New High Net Trading Profits will be generated only to the extent that the Advisor’s cumulative New High Net Trading Profits exceed the highest level of cumulative New High Net Trading Profits achieved by the Advisor as of a previous Incentive Measurement Date.

  • New High Net Trading Profits will not include interest earned or credited on the Allocated Assets.

  • If an Incentive Fee shall have been paid by the Company to the Advisor in respect of any calendar quarter and the Advisor shall incur subsequent losses on the Allocated Assets, the Advisor shall nevertheless be entitled to retain amounts previously paid to it in respect of New High Net Trading Profits.

  • New High Net Trading Profits (for purposes of calculating the Advisor’s Incentive Fee only) will be computed as of the Incentive Measurement Date and will include such profits (as outlined below) since the Incentive Measurement Date of the most recent preceding calendar quarter for which an incentive fee was earned (or, with respect to the first Incentive Fee, as of the commencement of operations) (the “Incentive Measurement Period”).

  • New High Net Trading Profits shall be computed solely on the performance of the Advisor and shall not include or be affected by the performance of any Other Advisor.

  • New High Net Trading Profits for the Advisor shall be computed as of the close of trading on the last day of each calendar quarter.

  • If an Incentive Fee shall have been paid by the Trust to the Advisor in respect of any calendar quarter and the Advisor shall incur subsequent losses on the Allocated Assets the Advisor shall nevertheless be entitled to retain amounts previously paid to it in respect of New High Net Trading Profits.

  • If an Incentive Fee shall have been paid by the Managing Owner to the Trading Advisor in respect of any calendar quarter and the Trading Advisor shall incur subsequent losses in trading on behalf of the Trading Company, the Trading Advisor shall nevertheless be entitled to retain amounts previously paid to it in respect of New High Net Trading Profits.


More Definitions of Net Trading Profits

Net Trading Profits means the sum of:
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Net Trading Profits shall be computed as of each Performance Fee Measurement Date and shall include such profits attributable to each Series (as outlined below) since the Trading Advisor began trading for such Series (the “Performance Fee Measurement Period”). Net Trading Profits for any Performance Fee Measurement Period shall be the net profits attributable to each Series, if any, from the Trading Advisor’s trading (including (i) cumulative gross realized trading profit (or loss) plus or minus (ii) the change in unrealized trading profit (or loss) on open positions, minus such Series’ pro rata portion of (iii) transaction-related fees and expenses including brokerage commission, exchange fees, NFA fees and give-up fees, minus (iv) such Series’ share of the Management Fee. Performance Fees do not reduce cumulative Net Trading Profits. In addition, with respect to (i) the Aspect CS Series, organizational and initial offering costs, Placement Fees, ongoing Sales Commissions, Service Provider Fees, operating expenses of the Aspect CS Series not covered by the Service Provider Fees and Sponsor’s Fees do not reduce cumulative Net Trading Profits; (ii) the Aspect Series, organizational and initial offering costs, Placement Fees, Administration Fees, ongoing Sales Commissions and operating expenses of the Aspect Series do not reduce cumulative Net Trading Profits; and (iii) the AlphaMosaic Series, the following expenses (whether incurred at the AlphaMosaic Series or RPM Series level): organizational and initial offering costs, Placement Fees, ongoing Sales Commissions, RPM Management Fees, RPM Performance Fees, Management Fees and Incentive Allocations payable to the Sponsor, Placement Fees, Underlying Platform Operating Fees, Sponsor’s Fee, cash management fees and any distribution fees, operating expenses and extraordinary expenses do not reduce cumulative Net Trading Profits. Interest income or expense is not taken into account in calculating Net Trading Profits for the Aspect Series.
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Related to Net Trading Profits

  • New Trading Profits means the excess, if any, of Net Assets of the Partnership managed by the Advisor at the end of the fiscal period over Net Assets of the Partnership managed by the Advisor at the end of the highest previous fiscal period or Net Assets of the Partnership allocated to the Advisor at the date trading commences by the Advisor for the Partnership, whichever is higher, and as further adjusted to eliminate the effect on Net Assets of the Partnership resulting from new capital contributions, redemptions, reallocations or capital distributions, if any, made during the fiscal period decreased by interest or other income, not directly related to trading activity, earned on the Partnership’s assets during the fiscal period, whether the assets are held separately or in margin accounts. Ongoing expenses shall be attributed to the Advisor based on the Advisor’s proportionate share of Net Assets of the Partnership. Ongoing expenses shall not include expenses of litigation not involving the activities of the Advisor on behalf of the Partnership. Ongoing expenses include offering and organizational expenses of the Partnership. No Incentive Fee shall be paid to the Advisor until the end of the first full calendar quarter of the Advisor’s trading for the Partnership, which fee shall be based on New Trading Profits (if any) earned from the commencement of trading by the Advisor on behalf of the Partnership through the end of the first full calendar quarter of such trading. Interest income earned, if any, shall not be taken into account in computing New Trading Profits earned by the Advisor. If Net Assets of the Partnership allocated to the Advisor are reduced due to redemptions, distributions or reallocations (net of additions), there shall be a corresponding proportional reduction in the related loss carryforward amount that must be recouped before the Advisor is eligible to receive another Incentive Fee.

  • unrealized profits means the fair market value of the gain to such Person of replacing such Rate Management Transaction as of the date of determination (assuming such Rate Management Transaction were to be terminated as of that date).

  • Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP.

  • Floating Profit/Loss means current profit/loss on Open Positions calculated at the current Quotes.

  • Gross Profits means the gross profits calculated under section 4;