Equitree Emerging Opportunities, net of fees.
Tiered management fee plus performance carry. 10% hurdle, 2× HWM crystallisation. Management fee steps down as AUM grows.
- Minimum
- ₹1 Cr
- Currency
- INR
- Hurdle
- 10% p.a.
- Crystallisation
- 2× HWM
Your scenario
Net final AUM
₹15.22 Cr
After 7 years, all fees charged.
Net CAGR (p.a.)
17.2%
Gross was 20.0% · drag 2.8%
Multiple on capital
3.04×
Final ₹15.22 Cr / Invested ₹5.00 Cr
Total fees paid
₹1.77 Cr
13.7% of gross gains
- Capital invested
- ₹5.00 Cr
- Gross final AUM
- ₹17.92 Cr
- Fixed + ops fees
- ₹0.78 Cr
- Performance fees
- ₹0.98 Cr
Before fees
2× crystallised
Fee tiers
| AUM slab | Mgmt fee | Performance | Hurdle |
|---|---|---|---|
| ₹1–3 Cr | 1.5% | 20% | 10% |
| ₹3–10 Cr | 1% | 18% | 10% |
| ₹10+ Cr | 1% | 15% | 10% |
Operational
0.20% p.a. on AUM (custody + admin)
Crystallisation
2× HWM · or exit, whichever earlier
Back-ended carry
Performance fee crystallises only at 2× HWM or on exit, against the higher of HWM or the 10% hurdle. No catch-up. No churn.
Step-down management fee
Management fee reduces from 1.5% to 1% once AUM exceeds ₹3 Cr. Performance carry also steps down as AUM grows.
Portfolio value with and without fees
₹ Crore- Net AUM
- Gross (no fees)
- HWM
- Hurdle
Annual fees breakdown
₹ Crore- Fixed
- Operational
- Performance
Year-by-year cash flows.
Select a year to see its cash flow and how the performance fee test worked out.
| Year | Start AUM | Fixed | Ops | Growth | Hurdle | Perf fee | End AUM | HWM |
|---|---|---|---|---|---|---|---|---|
| ₹5.00 Cr | ₹5.41 L | ₹1.08 L | ₹99.33 L | ₹5.50 Cr | – | ₹5.93 Cr | ₹5.00 Cr | |
| ₹5.93 Cr | ₹6.42 L | ₹1.28 L | ₹1.18 Cr | ₹6.05 Cr | – | ₹7.03 Cr | ₹5.00 Cr | |
| ₹7.03 Cr | ₹7.61 L | ₹1.52 L | ₹1.40 Cr | ₹6.66 Cr | – | ₹8.33 Cr | ₹5.00 Cr | |
| ₹8.33 Cr | ₹9.02 L | ₹1.80 L | ₹1.66 Cr | ₹7.32 Cr | – | ₹9.88 Cr | ₹5.00 Cr | |
| ₹9.88 Cr | ₹10.70 L | ₹2.14 L | ₹1.96 Cr | ₹8.05 Cr | ₹65.95 L @ 18% | ₹11.06 Cr | ₹11.06 Cr | |
| ₹11.06 Cr | ₹11.97 L | ₹2.39 L | ₹2.20 Cr | ₹12.16 Cr | – | ₹13.11 Cr | ₹11.06 Cr | |
| ₹13.11 Cr | ₹14.19 L | ₹2.84 L | ₹2.60 Cr | ₹13.38 Cr | – | ₹15.54 Cr | ₹11.06 Cr | |
| ₹15.54 Cr | – | – | ₹0.00 L | ₹13.38 Cr | ₹32.48 L @ 15% | ₹15.22 Cr | ₹15.22 Cr |
In one paragraph.
You started with ₹5.00 Cr for 7 years, assuming a gross 20% p.a. Without fees, the portfolio would reach ₹17.92 Cr (20.0% gross CAGR). After all fees, you end with ₹15.22 Cr (17.2% net CAGR), a multiple of 3.04× on your capital.
Performance fees are back-ended: they crystallise only when AUM hits 2× HWM and clears the 10% hurdle, or on investor exit. In this run, triggers occurred in: Y5, Exit (Y7).
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Disclosure
This is an illustration, not a forecast, an offer or investment advice. The return you enter is an assumption you have chosen; it is not Equitree Capital's estimate, and no return is promised. Figures are pre-tax. Equitree Capital Advisors Pvt Ltd is a SEBI-registered Portfolio Manager (INP000005777).
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