In a inventory alternate discover right now (14 June), the board stated the efficiency payment methodology now permits Phoenix Asset Administration to earn a payment for any outperformance that’s re-generated after being clawed again.
Previous to the modifications, a key facet of the belief was its clawback, the place efficiency charges paid to the funding supervisor might solely be retained by them if Aurora didn’t underperform within the subsequent three yr lock-in interval.
Below this technique, if efficiency charges are clawed again, the excessive water mark, or degree at which future efficiency charges are payable, doesn’t get adjusted,…
