CFA Level I sample question

CFA Level I 7. Hedge Funds question

Alternative Investments / 7. Hedge Funds

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7. Hedge Funds sample question

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Alternative Investments

7. Hedge Funds

A hedge fund begins the year at USD100 million and ends the year at USD118 million before fees. The high-water mark is USD110 million. The fund charges a 2% management fee on ending gross value and a 20% incentive fee above the high-water mark after management fees. The investor net return is closest to:

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