So from the table, the results in the green are for performance above the benchmark and I’m guessing white is a straight up figure for annual performance, not a benchmark outperformance?
Are all these returns after all fees to the investor?
You mentioned Hyperion capped out and performing quite poorly, why should this affect performance? The Ophir opportunities fund has been capped out I would guess for approx 3 years now yet performance over that time seems to be inline with longer term average. I noticed in the PDS for Ophir that manager fees are negotiable to significant wholesale investors, what’s your interpretation of that?
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So from the table, the results in the green are for performance...
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