Tue, Dec 12, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The matter of hedge fund fees

Thursday, November 11, 2010

Benedicte Gravrand, Opalesque Europe.

There was much debate about hedge fund fees at Terrapinn's Hedge 2010 London conference on Tuesday. The 2 and 20 structure has become norm over the past years and has been brought into question since 2008, when most hedge funds failed to deliver what the high fees were for, that is, uncorrelated returns.

Opalesque is here reporting commentaries from Millennium's Israel Englander and GLC's Caroline Hoare, as well as from some major investors.

Izzy on fees "Is the power shifting back to the hedge fund manager?" asked Israel Englander, Chairman and CEO of Millennium Management, at the conference. "My response is; it is not about the transfer of power... For twenty years, nothing has changed; we get paid on performance."

Englander said that Millennium, which is head-quartered in New York, had been adding a lot of transparency for its investors of late. The firm has also increased controls and oversights (they now do two audits each year), invested in state-of-the-art technology, and built a strong management team to help run the place. Englander, who switched from trading to management, enjoys getting out more, and not spending entire days in front of computer screens. "We also have an Investor Day," he added.

Twenty years a......................

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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. News Briefs - Italy's Carige to sell consumer credit arm to Chenavari, Less than a year after hedge fund coup, East Bay drug maker cuts jobs, looks to move HQ[more]

    Italy's Carige to sell consumer credit arm to Chenavari Italy's Banca Carige aims to sell its consumer credit unit to London-based hedge fund Chenavari by Dec. 6 when a vital 560 million euro ($664 million) cash call ends. Genoa-based Carige must comply by the end of the year with Europe

  3. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  4. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  5. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa