Hurdle Return means the performance of the one month SONIA (SONIA1M IR) over the course of the Performance Period. Gross Asset Value (“GAV”) means the net asset value of the Scheme Property of the Fund before accounting for the payment of any Performance Fee and/or any dividend. The Performance Fee shall be calculated by the Administrator and verified by the ACD. Example 1:Benchmark: One month SONIA (SONIA1M IR)Performance Fee: 15%Scenario: NAV decreases during the initial Performance Period Result: Performance Fee is not paidDetail: In this example: • an investor purchases 1000 Shares at an opening NAV of 100p at the beginning of the initial Performance Period (at which point the HANAV becomes £1000); • the closing GAV decreases to £900;• SONIA for the period is 2%.In this situation, no Performance Fee is payable. The fund’s closing NAV is £900 and the HANAV becomes £1020 (old HANAV of£1000 x 1.02 Hurdle Return for the year). Example 2:Benchmark: One month SONIA (SONIA1M IR)Performance Fee: 15%Scenario: NAV increases during the initial Performance Period Result: Performance Fee is paidDetail: In this example: • an investor purchases 1000 Shares at an opening NAV of 100p at the beginning of the initial Performance Period (at which point the HANAV becomes £1000); • the closing GAV increases to £1,100;• SONIA for the period is 2%.In this situation, a Performance Fee is payable and is calculated as follows: performance (£100) – Hurdle Return (SONIA 2%) x Performance Fee (15%) = (£100 – £20) x 15% = £12. The closing NAV is £1088 which becomes the new HANAV.Example 3:Benchmark: One month SONIA (SONIA1M IR) Performance Fee: 15%Scenario: NAV is at the HANAV and decreases after the initial Performance Period Result: Performance Fee is not paidDetail: In this example: • an investor holds 1000 Shares at an opening NAV of £1088 at the beginning of the Performance Period (at which point the HANAV is also £1088); • the closing GAV decreases to £900;• SONIA for the period is 2%.In this situation, no Performance Fee is payable. The fund’s closing NAV is £900 and the HANAV becomes £1109.76 (old HANAV of £1088 x 1.02 Hurdle Return for the year). Example 4:Benchmark: One month SONIA (SONIA1M IR)Performance Fee: 15%
Hurdle Return shall have the meaning set forth in Section 9(a)(ii)(F).
Examples of Hurdle Return in a sentence
If the three tests are met, the Performance Fee shall be 10% of the amount by which the Net Asset Value per Share (before the deduction of Performance Fees) exceeds the Hurdle Return as at the end of a Performance Period (less any shortfall amount in accordance with paragraph B.
Cumulative Hurdle Return is calculated by reference to the prevailing cash rate as set by the Reserve Bank of Australia (expressed as a percentage) multiplied by the last calculated Net Asset Value of the Fund (adjusted for income and capital distributions occurring after that value was calculated).
The sum of each value calculated since a Performance Fee was last paid to the Manager (and until the first time a Performance Fee is paid, the date Units are issued under this PDS) is used in thePerformance Fee calculation (as the Cumulative Hurdle Return).
The performance test will be met if: the increase in the Net Asset Value per Share over a Performance Period (taking into account paragraph B (ii) if applicable) is greater than the return of 1 month LIBOR in the currency of the Share Class (the "Hurdle Return") over the same Performance Period.
If the prevailing cash rate as set by the Reserve Bank of Australia is negative, then it is treated as being zero for the purposes of calculating the Cumulative Hurdle Return.
More Definitions of Hurdle Return
Hurdle Return a compound eight per cent. (8%) return per annum on the aggregate equity and shareholder debt invested in LuxCo1 at Closing and thereafter and compounded annually on a pro rata basis, including, in each case, the principal value of all amounts invested or paid at Closing and thereafter;
Hurdle Return means the minimum amount of return that the Client requires “Inflow” means the net additions to the Portfolio by the Client during the *month/ quarter / year or theshorter period. “Outflow” means the net redemptions from the Portfolio by or to the Client during the *month/ quarter /year or the shorter period. “Valuation Day” means the last Business Day of the *month/ quarter / year / the shorter period or the other Business Day as determined by the Investment Manager. “Business Day” means a day (other than Saturday and Sunday) on which banks in Hong Kong are open for normalbanking business or such other day(s) the Investment Manager may determine from time to time. The NAV/NAV Highest of the Portfolio on the Valuation Day/termination date and the value of any addition or redemption shallbe determined by Evergrande Securities (Hong Kong) in its sole discretion. *Please circle the appropriate option
Hurdle Return. An internal rate of return equal to 20% per annum, compounded annually, on the aggregate interests of (A) XX XX and M&M Vehicle, L.P. in the Partnership, and (B) Xxxxx & McLennan Risk Capital Holdings, Ltd. in the Fund, such rate of return calculated by taking into account (I) the amount and timing of Capital Contributions made by XX XX and M&M Vehicle, L.P. to the Partnership, (II) the amount and timing of capital contributions made by Xxxxx & McLennan Risk Capital Holdings, Ltd. to the Fund, (III) the amount and timing of all distributions to XX XX and M&M Vehicle, L.P. in respect of their Capital Contributions to the Partnership and in respect of their Points, and (IV) the amount and timing of all distributions to Xxxxx & McLennan Risk Capital Holdings, Ltd. in respect of its capital contributions to the Fund.
Hurdle Return means the performance of the one month SONIA (SONIA1M IR) over the course of the Performance
Hurdle Return means, as of any date, the product of (a) the Base Amount, and (b) the Hurdle Rate, computed on the basis of a 365-day year.
Hurdle Return means, in relation to an Investment or Reference Asset as appropriate, an amount equal to an IRR of eight percent (8%) per annum upon such the Acquisition Cost of such Investment or Reference Asset as appropriate, accruing from the date of completion of the Investment or Reference Asset as appropriate, until the date of its realisation.
Hurdle Return means, in relation to each Limited Partner, on any date, such amount as is equal to a rate of return of eight percent (8%) per annum, compounded annually, on the excess (if any) of (a) such Limited Partner's aggregate Capital Contributions contributed to the Partnership over (b) the aggregate distributions made (or deemed to be made) to such Limited Partner.