High Water Mark – This the assurance to make sure that a fund will only draw fees on profits special to a specific investment. The fund will only draw incentive fees if the investment grows above it’s initial amount.
Highest 12 Month Return – The best or highest 12 month period of the fund’s performance
Highest Monthly Return – The best or highest monthly return of the fund.
Hurdle Rate – Above this amount the hedge fund manager can begin taking incentive fees.