You manage a hedge fund with $300 million in assets. Your fee structure provides for a 1% annual management fee with a 20% incentive on returns over a 15% benchmark. If the fund value, before fees, is $345 million at the end of the year, what is the net return to the investors?

You manage a hedge fund with $300 million in assets. Your fee structure provides for a 1% annual management fee with a 20% incentive on returns over a 15% benchmark. If the fund value, before fees, is $345 million at the end of the year, what is the net return to the investors? Multiple Choice 13.33% O 14.42% O 14.10% O 13.40% O 14.00%