39. The following information is available about a hedge fund: Initial fund assets $100 million
Fund assets at the end of the period (before fees) $110 million
Management fee based on assets under management 2%
Incentive fee based on the return 20%
Soft hurdle rate 8%
399388
No deposits to the fund or withdrawals from the fund occurred during the year. Management fees
are calculated using end-of-period valuation. Management fees and incentive fees are calculated
independently. The net-of-fees return of the investor is closest to:
A. 7.8%.
B. 7.4%.
C. 5.8%.
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