How are earnings calculated?
All gains are calculated using something known as the Maximum Quotation Approach (HWA)
This is an industry standard approach to the calculation of incentive rates (yield rates). This means that incentive rates are paid only on new net asset value increases. If a temporary decrease occurs, it must be recovered before paying the new incentive rates. This ensures that we only receive a performance fee only if the value of the account exceeds its previous maximum.More information
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