The word "outperformance" means performing better or achieving higher results compared to others or a standard. Full definition
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As Indian markets have matured, we have observed convergence to global mature markets in terms of outperformance of benchmark indices and fees. (indexologyblog.com)
But history shows that periods of outperformance in growth and value have been cyclical (see graph, below right). (fidelity.com)
The management fee is 0.95 percent plus a performance fee of 20 percent of outperformance over the S&P / TSX 60 index with high watermark. (canadiancapitalist.com)