Sun, Apr 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Value investor Guy Spier looks to emerging market and commodity stories for opportunities

Friday, October 22, 2010

From Kirsten Bischoff, Opalesque New York:

The principles of value investing are so intrinsic to the way Swiss-based firm Aquamarine Capital approaches business that Managing Partner Guy Spier allows his investors to participate in the fund at fee structures based not according to the assets under management, but rather on the value of the performance. According to the firm's website, "Returns above 6% are split in a 3:1 ratio between Limited Partners and the Managing Partner after fund expenses."

In an industry plagued by criticism over fee structures that have a tendency to reward high risk trading, Spier's bold move to collect fees only on alpha generation is one that has been discussed by many and implemented by few.

"...That seems to me to be a much better alignment of interests, between the manager and his investors than a standard 1 and 20 or 2 and 20, whereby the manager could be incentivized to simply gather assets," he explains to Opalesque's Matthias Knab during a recent interview on Opalesque TV.

Spier actually changed from the more prevalent 2/20 to the current fee structure in advance of his much-publicized lunch with Warren Buffett.

S......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

 

banner