Marlin Global pays performance fee
26 August 2020
Marlin Global pays performance fee
Marlin Global Limited (Marlin) 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 Marlin and Fisher
Funds. The performance fee paid to Fisher Funds is $1,558,607 plus GST.
Marlin’s Manager, Fisher Funds, is eligible for a performance fee because the Marlin portfolio
achieved a return for the year to 30 June 2020 in excess of the Bank Bill Index rate plus 5% (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 Marlin’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, Marlin’s performance will need to surpass the new
High Water Mark as well as the performance fee hurdle.
Alistair Ryan
Chair
Marlin Global Limited
Marlin Global Limited
Phone +64 9 489 7074
Fax +64 9 489 7139
Private Bag 93502,
Takapuna, Auckland
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