Question: The high - water mark: is the highest compensation that the fund has paid in the past. is the highest value, net of fees, that

The high-water mark:
is the highest compensation that the fund has paid in the past.
is the highest value, net of fees, that the fund has reached at any time in the past.
indicates that a hedge fund's management has exceeded the hurdle rate.
 The high-water mark: is the highest compensation that the fund has

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