fees
3 articles on fees.
fees · high-water-mark · fund-operations
A High-Water Mark, Worked to the PennyEveryone can recite what a high-water mark is. Far fewer can compute one through a drawdown, a mid-period deposit, and a recovery without making the classic mistake that overcharges the investor. Here's the whole calculation, one number at a time.
The Fluxy Team ·
fund-operations · nav · investor-accounting
Running the Fund, Not Just the Strategy: Unitized NAV, Fees, and an Audit TrailA profitable strategy is half a fund. The other half is investor accounting that doesn't drift: unitized NAV-per-unit, pro-rata P&L, management and performance fees with a high-water mark, and a compliance-grade execution audit trail. Here's the accounting engine that turns a strategy into a vehicle you can take outside capital into.
The Fluxy Team ·
fees · high-water-mark · investor-alignment
Fees That Align Everyone: High-Water Marks and Hurdles, in Plain EnglishFund fees have a reputation for being where managers quietly take more than they earned. They don't have to be. The high-water mark and the hurdle are elegant, century-old ideas that align a manager's payday with their investors' gains. Here's what they actually mean, why they matter, and why getting them exactly right is a trust decision, not an accounting detail.
The Fluxy Team ·