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Performance fee questioned
Friday 27th of April 2018
Fund manager Kingfish has been criticised for pulling in $2.4 million in performance fees when it underperformed the index. It invests in New Zealand equities.
Fisher Funds is eligible for a performance fee because the Kingfish portfolio achieved a return for the year to March 31 in excess of the bank bill index rate plus 7%, the performance fee hurdle, and the high-water mark.
Th...
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