News

FMA tackles performance fees

Tuesday 1st of March 2016

The Financial Markets Authority has released an information sheet explaining how it expects fund managers to disclose performance-based fees to investors.

It said a high-water mark would ensure that a manager who lost money must do more than recover before it started charging a performance fee.

“The FMC Act does not require the use of a high-water mark,” the FMA said. “Investors h...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.