In year 1, a fund increases from $179m to $194m (gross asset value). The fund has a 3/15 structure with a hurdle rate of 5.5%. How much are the performance fees for this year, assuming they are charged after management fees are first deducted from the gross asset value?

Review Later

$0.065m

$0.1217m

There are no performance fees for this year

$0.09975m