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That is helpful. I am still a bit uncertain on the 60 day window for outperforming by 1%.
Do you have to met that every day within the last billing period or only on one day each billing period when payment is determined?
For example, if for every rolling 60 day period ending in July the strategy outperformed the S&P by 1% and was positive except for one 60 day period ending say July 10th, would the manager get paid? Of course that is assuming that all the other metrics are met.
