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Milford must work harder for performance fees
Friday 4th of September 2015
Its most recent financial statements show it received $20.3 million in performance fees in the 2015 year, up from $18.9 million in 2014. It earned $24.3 million in capped management fees.
High water marks are used to stop fund managers earning performance fees when they are only recovering past losses.
The new fee structure, revealed in its latest prospectus, gives Milford a highe...
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