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{"sheet":"Multi Year- Hybrid Fees","index":0,"n_rows":49,"n_cols":17,"rows_kept":49,"merged":[[9,2,10,4],[9,5,9,6],[9,7,9,8],[9,9,9,10],[9,11,9,12],[9,13,9,14],[9,15,9,16],[11,5,11,6],[11,7,11,8],[11,9,11,10],[11,11,11,12],[11,13,11,14],[11,15,11,16],[12,5,12,6],[12,7,12,8],[12,9,12,10],[12,11,12,12],[12,13,12,14],[12,15,12,16],[13,5,13,6],[13,7,13,8],[13,9,13,10],[13,11,13,12],[13,13,13,14],[13,15,13,16],[14,2,14,16],[15,5,15,6],[15,7,15,8],[15,9,15,10],[15,11,15,12],[15,13,15,14],[15,15,15,16],[16,2,16,10],[16,11,16,12],[16,13,16,14],[16,15,16,16],[17,5,17,6],[17,7,17,8],[17,9,17,10],[17,11,17,12],[17,13,17,14],[17,15,17,16],[18,5,18,6],[18,7,18,8],[18,9,18,10],[18,11,18,12],[18,13,18,14],[18,15,18,16],[19,5,19,6],[19,7,19,8],[19,9,19,10],[19,11,19,12],[19,13,19,14],[19,15,19,16],[20,5,20,6],[20,7,20,8],[20,9,20,10],[20,11,20,12],[20,13,20,14],[20,15,20,16],[21,2,21,16],[22,5,22,6],[22,7,22,8],[22,9,22,10],[22,11,22,12],[22,13,22,14],[22,15,22,16],[23,5,23,6],[23,7,23,8],[23,9,23,10],[23,11,23,12],[23,13,23,14],[23,15,23,16],[24,5,24,6],[24,7,24,8],[24,9,24,10],[24,11,24,12],[24,13,24,14],[24,15,24,16],[25,5,25,6],[25,7,25,8],[25,9,25,10],[25,11,25,12],[25,13,25,14],[25,15,25,16],[26,5,26,6],[26,7,26,8],[26,9,26,10],[26,11,26,12],[26,13,26,14],[26,15,26,16],[27,5,27,6],[27,7,27,8],[27,9,27,10],[27,11,27,12],[27,13,27,14],[27,15,27,16],[28,5,28,6],[28,7,28,8],[28,9,28,10],[28,11,28,12],[28,13,28,14],[28,15,28,16],[29,5,29,6],[29,7,29,8],[29,9,29,10],[29,11,29,12],[29,13,29,14],[29,15,29,16],[30,5,30,6],[30,7,30,8],[30,9,30,10],[30,11,30,12],[30,13,30,14],[30,15,30,16],[31,2,31,16],[32,5,32,6],[32,7,32,8],[32,9,32,10],[32,11,32,12],[32,13,32,14],[32,15,32,16],[33,5,33,6],[33,7,33,8],[33,9,33,10],[33,11,33,12],[33,13,33,14],[33,15,33,16],[34,2,34,16],[35,5,35,6],[35,7,35,8],[35,9,35,10],[35,11,35,12],[35,13,35,14],[35,15,35,16],[37,1,37,16],[38,2,38,16],[39,2,39,16],[40,2,40,16],[41,2,41,16],[42,2,42,16],[43,2,43,16],[44,2,44,16],[45,2,45,16],[46,2,46,16],[47,2,47,16],[48,2,48,16]]}
[]
[null,null,"Assumptions",null,"Variables"]
[null,null,"Capital Contribution (Rs.)","a",{"v":10000000,"d":"10,000,000"}]
[null,null,"Fixed Management Fees (%age per annum)","b",{"v":0.015,"d":"1.50%"}]
[null,null,"Other Expenses (%age per annum)","c",{"v":1.5E-3,"d":"0.15%"}]
[null,null,"Performance Fee (%age per annum)","d",{"v":0.12,"d":"12.00%"}]
[null,null,"Hurdle Rate of Return (%age per annum)","e",{"v":0.1,"d":"10.00%"}]
[null,null,"Brokerage and Transaction Cost","f",{"v":2E-3,"d":"0.20%"}]
[]
[null,null,"Fees",null,null,"Yr 1",null,"Yr 2",null,"Yr 3",null,"Yr 4",null,"Yr 5",null,"Yr 6"]
[{"$nulls":5},"Gain / (Loss)",{"v":-0.3,"d":"-30.00%"},"Gain / (Loss)",{"v":0.1,"d":"10.00%"},"Gain / (Loss)",{"v":-0.01,"d":"-1.00%"},"Gain / (Loss)",{"v":1.1,"d":"110.00%"},"Gain / (Loss)",{"v":0.3,"d":"30.00%"},"Gain / (Loss)",{"v":0.15,"d":"15.00%"}]
[null,null,"Capital Contributed / Assets under Management","i",null,{"$f":"E3","v":{"v":10000000,"d":"10,000,000"}},null,{"$f":"F33","v":{"v":6842750,"d":"6,842,750"}},null,{"$f":"H33","v":{"v":7394104.58125,"d":"7,394,105"}},null,{"$f":"J33","v":{"v":7184056.555358141,"d":"7,184,057"}},null,{"$f":"L33","v":{"v":14851774.031183938,"d":"14,851,774"}},null,{"$f":"N33","v":{"v":18672808.75037888,"d":"18,672,809"}}]
[null,null,"Gain / (Loss) on Investment based on the Scenario ","ii",null,{"$f":"F12*G11","v":{"v":-3000000,"d":"-3,000,000 "}},null,{"$f":"H12*I11","v":{"v":684275,"d":"684,275"}},null,{"$f":"J12*K11","v":{"v":-73941.0458125,"d":"-73,941 "}},null,{"$f":"L12*M11","v":{"v":7902462.210893955,"d":"7,902,462"}},null,{"$f":"N12*O11","v":{"v":4455532.209355181,"d":"4,455,532"}},null,{"$f":"P12*Q11","v":{"v":2800921.312556832,"d":"2,800,921"}}]
[null,null,"Gross Value of the Portfolio at the end of the year ","iii",null,{"$f":"SUM(F12:G13)","v":{"v":7000000,"d":"7,000,000"}},null,{"$f":"SUM(H12:I13)","v":{"v":7527025,"d":"7,527,025"}},null,{"$f":"SUM(J12:K13)","v":{"v":7320163.5354375,"d":"7,320,164"}},null,{"$f":"SUM(L12:M13)","v":{"v":15086518.766252097,"d":"15,086,519"}},null,{"$f":"SUM(N12:O13)","v":{"v":19307306.24053912,"d":"19,307,306"}},null,{"$f":"SUM(P12:Q13)","v":{"v":21473730.062935714,"d":"21,473,730"}}]
[]
[null,null,"Daily Weighted Average of Assets under Management ","iv",null,{"$f":"(F12+F14)/2","v":{"v":8500000,"d":"8,500,000"}},null,{"$f":"(H12+H14)/2","v":{"v":7184887.5,"d":"7,184,888"}},null,{"$f":"(J12+J14)/2","v":{"v":7357134.0583437495,"d":"7,357,134"}},null,{"$f":"(L12+L14)/2","v":{"v":11135287.66080512,"d":"11,135,288"}},null,{"$f":"(N12+N14)/2","v":{"v":17079540.135861527,"d":"17,079,540"}},null,{"$f":"(P12+P14)/2","v":{"v":20073269.406657297,"d":"20,073,269"}}]
[]
[null,null,"Fixed Management Fees ","v",null,{"$f":"F16*$E$4","v":{"v":127500,"d":"127,500"}},null,{"$f":"H16*$E$4","v":{"v":107773.3125,"d":"107,773"}},null,{"$f":"J16*$E$4","v":{"v":110357.01087515624,"d":"110,357"}},null,{"$f":"L16*$E$4","v":{"v":167029.31491207678,"d":"167,029"}},null,{"$f":"N16*$E$4","v":{"v":256193.1020379229,"d":"256,193"}},null,{"$f":"P16*$E$4","v":{"v":301099.04109985946,"d":"301,099"}}]
[null,null,"Other Expenses","vi",null,{"$f":"F16*$E$5","v":{"v":12750,"d":"12,750"}},null,{"$f":"H16*$E$5","v":{"v":10777.331250000001,"d":"10,777"}},null,{"$f":"J16*$E$5","v":{"v":11035.701087515625,"d":"11,036"}},null,{"$f":"L16*$E$5","v":{"v":16702.93149120768,"d":"16,703"}},null,{"$f":"N16*$E$5","v":{"v":25619.31020379229,"d":"25,619"}},null,{"$f":"P16*$E$5","v":{"v":30109.904109985946,"d":"30,110"}}]
[null,null,"Brokerage and Transaction Cost","viii",null,{"$f":"F16*$E$8","v":{"v":17000,"d":"17,000"}},null,{"$f":"H16*$E$8","v":{"v":14369.775,"d":"14,370"}},null,{"$f":"J16*$E$8","v":{"v":14714.268116687499,"d":"14,714"}},null,{"$f":"L16*$E$8","v":{"v":22270.57532161024,"d":"22,271"}},null,{"$f":"N16*$E$8","v":{"v":34159.080271723054,"d":"34,159"}},null,{"$f":"P16*$E$8","v":{"v":40146.5388133146,"d":"40,147"}}]
[null,null,"Total Charges during the year (Sum of v, vi and vii)","viii",null,{"$f":"SUM(F18:G20)","v":{"v":157250,"d":"157,250"}},null,{"$f":"SUM(H18:I20)","v":{"v":132920.41875,"d":"132,920"}},null,{"$f":"SUM(J18:K20)","v":{"v":136106.98007935937,"d":"136,107"}},null,{"$f":"SUM(L18:M20)","v":{"v":206002.8217248947,"d":"206,003"}},null,{"$f":"SUM(N18:O20)","v":{"v":315971.4925134382,"d":"315,971"}},null,{"$f":"SUM(P18:Q20)","v":{"v":371355.48402316,"d":"371,355"}}]
[]
[null,null,"Value of the Portfolio before Performance Fee ","ix",null,{"$f":"F14-F21","v":{"v":6842750,"d":"6,842,750"}},null,{"$f":"H14-H21","v":{"v":7394104.58125,"d":"7,394,105"}},null,{"$f":"J14-J21","v":{"v":7184056.555358141,"d":"7,184,057"}},null,{"$f":"L14-L21","v":{"v":14880515.944527201,"d":"14,880,516"}},null,{"$f":"N14-N21","v":{"v":18991334.74802568,"d":"18,991,335"}},null,{"$f":"P14-P21","v":{"v":21102374.578912552,"d":"21,102,375"}}]
[null,null,"High Water Mark (HWM) Value of this Year","x",null,{"$f":"IF($E$6>0, F12,0)","v":{"v":10000000,"d":"10,000,000"}},null,{"$f":"IF($E$6>0, F36,0)","v":{"v":10000000,"d":"10,000,000"}},null,{"$f":"IF($E$6>0, H36,0)","v":{"v":10000000,"d":"10,000,000"}},null,{"$f":"IF($E$6>0, J36,0)","v":{"v":10000000,"d":"10,000,000"}},null,{"$f":"IF($E$6>0, L36,0)","v":{"v":14851774.031183938,"d":"14,851,774"}},null,{"$f":"IF($E$6>0, N36,0)","v":{"v":18672808.75037888,"d":"18,672,809"}}]
[null,null,"Hurdle Value after adding Hurdle Rate of Return ","xi",null,{"$f":"F24+(F24*E7)","v":{"v":11000000,"d":"11,000,000"}},null,{"$f":"IF(F30=0, (F25+(F25*$E$7)), (H24+(H24*$E$7)))","v":{"v":12100000,"d":"12,100,000"}},null,{"$f":"IF(H30=0, (H25+(H25*$E$7)), (J24+(J24*$E$7)))","v":{"v":13310000,"d":"13,310,000"}},null,{"$f":"IF(J30=0, (J25+(J25*$E$7)), (L24+(L24*$E$7)))","v":{"v":14641000,"d":"14,641,000"}},null,{"$f":"IF(L30=0, (L25+(L25*$E$7)), (N24+(N24*$E$7)))","v":{"v":16336951.434302332,"d":"16,336,951"}},null,{"$f":"IF(N30=0, (N25+(N25*$E$7)), (P24+(P24*$E$7)))","v":{"v":20540089.62541677,"d":"20,540,090"}}]
[]
[null,null,"Portfolio Value in excess of Hurdle Value","xii",null,{"$f":"F23-F25","v":{"v":-4157250,"d":"-4,157,250 "}},null,{"$f":"H23-H25","v":{"v":-4705895.41875,"d":"-4,705,895 "}},null,{"$f":"J23-J25","v":{"v":-6125943.444641859,"d":"-6,125,943 "}},null,{"$f":"L23-L25","v":{"v":239515.94452720135,"d":"239,516"}},null,{"$f":"N23-N25","v":{"v":2654383.31372335,"d":"2,654,383"}},null,{"$f":"P23-P25","v":{"v":562284.9534957819,"d":"562,285"}}]
[null,null,"Portfolio Value on which Performance Fee is Charged","xiii",null,{"$f":"IF(F27<0, 0, F27)","v":0},null,{"$f":"IF(H27<0, 0, H27)","v":0},null,{"$f":"IF(J27<0, 0, J27)","v":0},null,{"$f":"IF(L27<0, 0, L27)","v":{"v":239515.94452720135,"d":"239,516"}},null,{"$f":"IF(N27<0, 0, N27)","v":{"v":2654383.31372335,"d":"2,654,383"}},null,{"$f":"IF(P27<0, 0, P27)","v":{"v":562284.9534957819,"d":"562,285"}}]
[null,null,"Profit Share of the PMS","xiv",null,{"$f":"IF($E$6>0, F28*$E$6, 0)","v":0},null,{"$f":"IF($E$6>0, H28*$E$6, 0)","v":0},null,{"$f":"IF($E$6>0, J28*$E$6, 0)","v":0},null,{"$f":"IF($E$6>0, L28*$E$6, 0)","v":{"v":28741.91334326416,"d":"28,742"}},null,{"$f":"IF($E$6>0, N28*$E$6, 0)","v":{"v":318525.997646802,"d":"318,526"}},null,{"$f":"IF($E$6>0, P28*$E$6, 0)","v":{"v":67474.19441949383,"d":"67,474"}}]
[null,null,"Performance Fee (Profit Share to be taken by PMS)","xv",null,{"$f":"F29","v":0},null,{"$f":"H29","v":0},null,{"$f":"J29","v":0},null,{"$f":"L29","v":{"v":28741.91334326416,"d":"28,742"}},null,{"$f":"N29","v":{"v":318525.997646802,"d":"318,526"}},null,{"$f":"P29","v":{"v":67474.19441949383,"d":"67,474"}}]
[null,null,"Is the Performance Fee charged?","xvi",null,{"$f":"IF(F29>0,\"Yes\",\"No\")","v":"No"},null,{"$f":"IF(H29>0,\"Yes\",\"No\")","v":"No"},null,{"$f":"IF(J29>0,\"Yes\",\"No\")","v":"No"},null,{"$f":"IF(L29>0,\"Yes\",\"No\")","v":"Yes"},null,{"$f":"IF(N29>0,\"Yes\",\"No\")","v":"Yes"},null,{"$f":"IF(P29>0,\"Yes\",\"No\")","v":"Yes"}]
[]
[null,null,"Net Value of the Portfolio at the end of the year after all Fees and Expenses","xvii",null,{"$f":"F23-F30","v":{"v":6842750,"d":"6,842,750"}},null,{"$f":"H23-H30","v":{"v":7394104.58125,"d":"7,394,105"}},null,{"$f":"J23-J30","v":{"v":7184056.555358141,"d":"7,184,057"}},null,{"$f":"L23-L30","v":{"v":14851774.031183938,"d":"14,851,774"}},null,{"$f":"N23-N30","v":{"v":18672808.75037888,"d":"18,672,809"}},null,{"$f":"P23-P30","v":{"v":21034900.38449306,"d":"21,034,900"}}]
[null,null,"% Portfolio Return ","xviii",null,{"$f":"(F33-F12)/F12","v":{"v":-0.315725,"d":"-31.57%"}},null,{"$f":"(H33-H12)/H12","v":{"v":0.08057499999999997,"d":"8.06%"}},null,{"$f":"(J33-J12)/J12","v":{"v":-0.02840749999999996,"d":"-2.84%"}},null,{"$f":"(L33-L12)/L12","v":{"v":1.0673242083690062,"d":"106.73%"}},null,{"$f":"(N33-N12)/N12","v":{"v":0.2572780000000001,"d":"25.73%"}},null,{"$f":"(P33-P12)/P12","v":{"v":0.12649900000000008,"d":"12.65%"}}]
[]
[null,null,"High Water Mark (HMW) Value to be Carried Forward for Next Year","xix",null,{"$f":"IF(F30=0, F24, F33)","v":{"v":10000000,"d":"10,000,000"}},null,{"$f":"IF(H30=0, H24, H33)","v":{"v":10000000,"d":"10,000,000"}},null,{"$f":"IF(J30=0, J24, J33)","v":{"v":10000000,"d":"10,000,000"}},null,{"$f":"IF(L30=0, L24, L33)","v":{"v":14851774.031183938,"d":"14,851,774"}},null,{"$f":"IF(N30=0, N24, N33)","v":{"v":18672808.75037888,"d":"18,672,809"}},null,{"$f":"IF(P30=0, P24, P33)","v":{"v":21034900.38449306,"d":"21,034,900"}}]
[]
[null,"Notes: "]
[null,1,"Brokerage and transaction costs are applied on the basis of actual trades, not on average AUM. However, for the purpose of this illustration, the annualized assumption is shown based on Average AUM."]
[null,{"$f":"+B39+1","v":2},"The illustration assumes the Fixed Management Fees is charged on an annual rate but calculated quarterly on average AUM, in line with the PMS agreement. Performance fees are charged annually."]
[null,3,"Fixed Management Fees are calculated quarterly on the daily weighted average AUM during the quarter, as per the PMS agreement."]
[null,4,"Returns in this illustration are assumed to be realized linearly across the year."]
[null,5,"Other Charges include custodian and depository charges, fund accounting charges, audit fees and other administrative charges which are directly attributable to the portfolio management services in respect of the Client. In addition to the above fee, the Client would also pay to the Portfolio Manager such other incidental charges incurred by the Portfolio Manager on Client’s behalf on actual basis, statutory levies such as Goods & Service Tax and such other expenses incurred in respect of the investment made under this Agreement including all amendment/addition thereto which shall be debited to the Clients as and when the same becomes payable as per the provisions of this Agreement."]
[null,6,"All fees and charges are subject to applicable GST."]
[null,7,"The High Water Mark for the first year is the initial capital invested. From the second year onward, if performance fees are charged, the year-end post-fee portfolio value becomes the new High Water Mark. Otherwise, it carries forward from the last applicable High Water Mark."]
[null,8,"A hurdle rate is applied over the greater of the prior year's High Water Mark or year-end NAV to compute the minimum return required before charging performance fees."]
[null,9,"The hurdle rate is prorated in case the fee period is less than a year or if there are any portfolio inflows/outflows."]
[null,10,"The High Water Mark is adjusted annually in this illustration to ensure fair and consistent treatment of investors."]
[null,11,"This illustration is a generic example and subject to modification by the Portfolio Manager as per the PMS agreement terms."]