Imagine you are an investment analyst reviewing a client’s portfolio performance report. Your client is confused because their net returns, after accounting for the manager’s quoted management fee, are significantly...
Imagine you are reviewing two different Portfolio Management Service (PMS) term sheets for a high-net-worth client. Both managers demand a 15% performance fee over an 8% hurdle rate, but one specifies 'no catch-up' while...
Imagine you are reviewing a client’s portfolio statement from a discretionary PMS provider. You notice the net asset value (NAV) is 115, having recovered from a deep drawdown that saw it drop to 85, while the starting...
Imagine you are reviewing a client’s potential investment in a PMS strategy. You have analyzed the track record, which shows an impressive gross annualized return of 18%. However, your spreadsheet analysis indicates that...