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Welcome To Hedge Funds' Stunning Pass-Through Fees

by posted 2years ago 376 views
<p class="p p1">A&nbsp;<a href="" rel="nofollow">recent piece</a>&nbsp;by Reuters&#39; Lawrence Delevingne notes that hedge-fund investors - long subjected to inflated management fees - are losing patience, particularly with &quot;pass-through fees&quot; which allow funds to charge clients for travel, research, bonuses on top of the 2-and-20 (2% of AUM and 20% of profits) that the funds already charge:</p> <p>Millennium, the $34 billion New York firm led by billionaire Israel Englander, charged clients its usual fees of 5 or 6 percent of assets and 20 percent of gains in 2016, according to a person familiar with the situation. The charges left investors in Millennium&#39;s flagship fund with a net return of just 3.3 percent.</p>

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