A High-Water Mark (HWM) refers to the highest Net Asset Value (NAV) your fund participation has previously reached.
A High-Water Mark (HWM) refers to the highest Net Asset Value (NAV) your fund participation has previously reached. A performance fee is only charged when the NAV surpasses this level.
For the Hodl.nl Genesis Fund, Hodl.nl Consensus Fund, Hodl.nl Oracle Fund, Hodl Numeri Fund and Hodl Algorithmic Fund, the HWM is reset annually in January. At that point, the NAV at that date becomes the new HWM.