Benchmark Return definition

Benchmark Return means the performance of the MSCI All Country World Index (Net) USD (MSCI ACWI Net (USD)) (the “Index”) over the course of the Performance Period or the equivalent currency for the relevant Class of Shares.

Benchmark Return means the amount expressed in USD in respect of a Fiscal Quarter in accordance with the following formula: BR = BR1 + BR2 BR = the Benchmark Return for the Fiscal Quarter;

Benchmark Return means the performance of the MSCI Europe Index (Net) USD (the “Index”) over the course of the Performance Period or the equivalent currency for the relevant Class of Shares. The Index captures large and mid cap representation across 15 developed markets countries in Europe. The Index covers approximately 85% of the free float-adjusted market capitalization across the European developed markets equity universe. Further details on the composition of the Index and its calculation methodology can be found at

Examples of Benchmark Return in a sentence

• For the purposes of such calculation, the “Benchmark Level” will be the Net Asset Value per Share at the preceding Calculation Date plus the Benchmark Return.

• In the event that the performance of a Share over a performance period is less than the Benchmark Return, no performance fee shall be payable in respect of that Share until such underperformance relative to its Benchmark Return has been recovered.

• A Participant may, by complying with such procedures as the Administrator may prescribe on a uniform and nondiscriminatory basis, including procedures specifying the frequency with respect to which such changes may be effected (but not more than 12 times in any calendar year), change the Selected Benchmark Return Options to be applicable with respect to his or her Account.

• The Benchmark Return for each Share shall be the aggregate notional return which would have accrued in that performance period had a sum equal in value to the Net Asset Value per Share at the preceding Calculation Date been invested at the commencement of the performance period in the relevant market or index or at the relevant fixed rate return in the currency in which the relevant Class is denominated.

• In such event, Participants will be allowed, in such manner as the Administrator shall determine, to elect that all or a portion of Account Balances be indexed to such Benchmark Return Options.

More Definitions of Benchmark Return

Benchmark Return means an internal rate of return of 15% per annum, calculated on a compounded basis;

Benchmark Return means, with respect to the Synthetic Deposits and any Investment Period related to such Synthetic Deposits, a per annum rate equal to the sum of (i) the interest rate that would be earned on such Synthetic Deposits during such Investment Period if such Synthetic Deposits constituted a LIBO Rate Loan hereunder which (x) had an outstanding principal amount equal to the aggregate amount of such Synthetic Deposits, (y) accrued interest at the LIBO Rate (Reserve Adjusted) and (z) had an Interest Period equal in duration to such Investment Period plus (ii) the Applicable Margin in effect for Synthetic Participation Fees during such Investment Period.

Benchmark Return for any specific year means the difference between the benchmark index level at the commencement of the year under consideration and the benchmark index level at the end of the year under consideration divided by the benchmark index level at the commencement of the year under consideration;

Benchmark Return means, in respect of the relevant month, the percentage by which the Morgan Stanley Capital International World Index (AUD) increases or decreases over the course of the relevant month.

Benchmark Return means the amount expressed in KRW in relation to a Quarter, other than the First Quarter, in accordance with the following formula:

Benchmark Return means the increase in a financial year of the Net Asset Value of a Class calculated on the basis of a return rate of 5% per annum;

Benchmark Return means a notional amount (which may not be less than zero) equal to: