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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%.

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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? $0.065m $0.09975m There are no performance fees for this year $0.1217m

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