Barramundi pays performance fee

26 August 2020

Barramundi pays performance fee
Barramundi Limited (Barramundi) has paid a performance fee to the Manager, Fisher Funds
Management Limited (Fisher Funds) for the year ended 30 June 2020. The performance fee is
paid in accordance with the terms of the Management Agreement between Barramundi and
Fisher Funds. The performance fee paid to Fisher Funds is $296,483 plus GST.

Barramundi’s Manager, Fisher Funds, is eligible for a performance fee because the Barramundi
portfolio achieved a return for the year to 30 June 2020 in excess of the Bank Bill Index rate
plus 7% (the performance fee hurdle) and the High Water Mark (the highest net asset value at
the end of the previous financial year in which a performance fee was paid, adjusted for
changes in capital).

The performance fee, which is formula-driven, has been accrued in Barramundi’s net asset
value per share which is announced to NZX each week and at month end.

A new High Water Mark has now been set and in order for the Manager to achieve a
performance fee for the 2021 financial year, Barramundi’s performance will need to surpass the
new High Water Mark as well as the performance fee hurdle.


Alistair Ryan
Chair
Barramundi Limited
Barramundi Limited
Phone +64 9 489 7074
Fax +64 9 489 7139
Private Bag 93502,
Takapuna, Auckland