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periods since inception or the initial offer price in the case of the first Calculation Period.", "title": "High Watermark", "id": "high-watermark", "examples": ["The <strong>High Watermark</strong> feature provides a way to protect gains made during the current trading session by limiting how much of those profits can be given back to the market if losses begin to mount.", "Indicative Success Fees to pay may change as the value of open positions rises or falls (<strong>High Watermark</strong> principle).", "There is also a way (<strong>High Watermark</strong>) to protect gains made during the current trading session by limiting how much of those profits can be given back to the market if losses begin to mount.", "For the avoidance of doubt, the Investment Manager shall be entitled to a performance fee if and only if \u201cA\u201d in the formula exceeds the <strong>High Watermark</strong> \u201cB\u201d.", "<strong>High Watermark</strong> profit is the last value of the account by which the fund had paid for the Trader.", "The Performance Fee may not exceed 20% of the profits above the <strong>High Watermark</strong> Value (\u201cHWV\u201d).", "For each specific calendar month that a Money Manager reaches a performance lower than the <strong>High Watermark</strong>, the Money Manager will not be compensated a performance fee.", "Administration Fee (Issuer) 0.40% p.a. (exclusive of VAT) of the Strategy Value Administration Fee Calculation Date 28.09.2021; annually thereafter Administration Fee Payment Date Administration Fee Calculation Date + 5 business days Transaction Costs upon Portfolio Turnover (Rebalancing Fee) 0.10% Performance Fee: 10% Hurdle Rate: 0% p.a. Observation Interval: Annually (12 months) <strong>High Watermark</strong>: Applicable.", "AIG SERIES TRUST On behalf of [2010, 2015, 2020, 2025] <strong>High Watermark</strong> Fund By ________________ Name: Joseph P.", "For the first Performance Fee Record Date the <strong>High Watermark</strong> is equivalent to the Issue Price."], "related": [["sternlight", "Sternlight", "Sternlight"], ["graham-sibbald", "Graham + Sibbald", "Graham + Sibbald"], ["copper-loop", "Copper Loop", "Copper Loop"], ["high-seas", "high seas", "high seas"], ["asset-management-company-uti-amc-amc-investment-manager", "Asset Management Company/UTI AMC/AMC/Investment Manager", "Asset Management Company/UTI AMC/AMC/Investment Manager"]], "related_snippets": [], "updated": "2025-07-12T05:45:48+00:00"}, "json": true, "cursor": ""}}