A high water mark is a yardstick used to determine the minimum performance return a manager must achieve in the future to receive their performance fee, which means they aren't compensated if they have lost investors’ capital.

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Pearl Funds Management, an authorised representative AFS Rep No 001254808 of Banyan Securities Pty Ltd AFSL 484139
The information presented by us is general in nature and does not take into account your personal goals and objectives. It does not represent financial product advice. You should always seek independent legal and financial advice before making a decision in relation to a financial product. Read the Product Disclosure Statement (PDS) before making a decision. You should consider your own circumstances, needs and financial objectives before making a decision.

Daniella D'Ambrosio
14 April 2015