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Alternative Market Briefing

Commodities fund of hedge funds manager cuts second layer of fees

Thursday, September 13, 2012

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Anric Blatt
Benedicte Gravrand, Opalesque Geneva:

Anric Blatt, Chairman of Global Fund Exchange, an investment management group, told Opalesque that he would drastically reduce his fees for a couple of month.

All his funds are multi-manager funds: either funds of managed accounts, hybrids or funds of hedge funds. They focus on investments in clean energy, water, agriculture, energy and natural resources.

Investors who invest up to $100m in any of the funds within the next two dealing dates (September 28 and October 31) will be charged a flat management fee of 0.75% per annum, and all performance fees will be waived for three years, he said.

Global Fund Exchange came into the hedge fund industry with the idea to make difference. "We saw a massive gap in the market place between institutional investors putting capital to work and essentially the most significant asset classes that are going to drive future human growth, that is energy, water, agriculture, clean energy, natural resources, carbon trading and so on," Blatt explained from his New York offices.

He found by speaking with institutional clients that although the latter love the funds’ themes, the full transparency and the weekly estimates his group supplies, they are not so keen on the "fees on top of fees." This is becoming a classic challenge in the world of funds of funds, as investors are increasingly reluctant to bear th......................

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