Pharo Management serves as an investment advisor to several hedge funds, trading primarily in emerging markets across a broad range of global assets. Pharo Management provides discretionary advisory services pursuant to the investment objectives and strategies of the Pharo Hedge Funds disclosed in their respective Information Memorandums. Pharo Management is not restricted in its activities and has authority to trade in any market or situation it believes advantageous to the Pharo Hedge Funds, including investing in developed markets across the same range of asset classes.
Fee Structure
Pharo Management generally receives a monthly management fee equal to one-twelfth of two percent of the net asset value of each fund (2% per year) and an annual performance fee equal to 20% of the increase, if any, in the value of each series of shares of each fund during each calendar year, subject to a high-water mark. Pharo Management charges a lower management fee and higher performance fee on certain share classes of certain Pharo Hedge Funds. Such fees are disclosed in the Information Memorandum of the applicable Pharo Hedge Funds.