What sort of performance fees do you tend to get in a fund when there is no AUM fee and it is just based on performance fee? Is it just 15-20% on profits made? Or is it usually higher as there’s not AUM fee? Eg 100m AUM, makes 10% then its 20% on the £10m that has been made, therefore 2m goes to the PM? Is this correct?
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Our firm runs a small first loss account with this structure and take 30% performance fee over HWM. Though I’m sure this scales higher for a more well known shop
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