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Generally, You take an incentive fee on Net New Trading profits only. So if an account has no trading, no P(L) and no fees for a quarter, but the client reduces the account by 40k, the HWM would be...

It's a great model for not just universities, but individuals as well, to follow. It's an approach the creates much truer portfolio diversification than what is conventionally-preached (which is...

Pamela, I'm not totally sure what your question is. But in the case of my fund (Brandywine Symphony Fund), we are paid a profit allocation (incentive fee) at the end of each quarter based on the net...

C (negative correlation) would definitely add portfolio diversification, but also, B could be a correct answer if "security prices" refers to the rest of the portfolio. In general though, I don't...