Principles - Alignment
We are a significant investor in the Fund we manage.
For any performance fee earned, we elect to be paid (as much as possible) in units of the Fund, thereby tying BSC's financial prospects ever closer to the financial prospects of those we act on behalf of. This just seems natural really. Why else would we invest in the companies we do, if we didn't want to own them ourselves.
This dynamic promotes sound long term investing, as the future value of any performance fee will be influenced by the ongoing quality and performance of the businesses invested in.