Question: Value pre - fees$ 2 , 2 0 0 , 0 0 0 $ 2 , 2 0 0 , 0 0 0 Management fee

Value pre-fees$2,200,000$2,200,000Management fee1.30%Incentive fee13%Threshold level7%Expense ratio1.30%Fund return16%13%Hedge fundMutual fundInitial investmentManagement feesPost management fees valueThreshold valueIncentive feesTotal feesValue after-feesAfter-fee return

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