easy · FRM Part 2 Risk & Investment Management
Formula-and-meaning check before application in Risk & Investment Management.
Within Risk & Investment Mgmt — Alternative Investments & Hedge Funds, which statement correctly describes High-water mark?
- prior peak net asset value that must be exceeded before a new incentive fee is charged
- initial period during which an investor cannot redeem capital
- upward bias caused by excluding funds that closed or stopped reporting
- manager compensation based on investment gains under stated terms
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