{ "manager": "Pareto Technologies — Nomos (Diophan)", "date": "2026-03-23", "disclaimer": "Fee terms NOT confirmed by manager. Analysis uses assumed standard 2/20 hedge fund terms.", "assumptions": { "mgmt_fee": 0.02, "perf_fee": 0.20, "hurdle": 0.00, "fof_mgmt_fee": 0.005, "fof_perf_fee": 0.05, "fof_hurdle": 0.04, "returns_reported_as": "net-of-fee (per Phase 1 data notes)" }, "scenario_a_gross_returns": { "full_period": { "gross_alpha": 2.37, "manager_fee_drag": 0.494, "net_after_manager": 1.876, "fof_drag": 0.097, "net_after_all_fees": 1.779, "total_fee_drag": 0.591, "fee_drag_pct_of_gross": 0.249 }, "recent_2024": { "gross_alpha": 1.478, "manager_fee_drag": 0.316, "net_after_manager": 1.162, "fof_drag": 0.056, "net_after_all_fees": 1.106, "total_fee_drag": 0.372, "fee_drag_pct_of_gross": 0.252 }, "decay_2023": { "gross_alpha": 0.566, "manager_fee_drag": 0.133, "net_after_manager": 0.433, "fof_drag": 0.020, "net_after_all_fees": 0.413, "total_fee_drag": 0.153, "fee_drag_pct_of_gross": 0.270 } }, "gate_threshold": 0.30, "gate_result": "PASS (conditional — fee terms unconfirmed)" }
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