| 23.02.2012 Hedge funds drown in high water marks |
| Benedicte Gravrand, Opalesque Geneva:
Swiss bank Credit Suisse recently said that more than two thirds of hedge funds are below their high water marks. This means most of them are not getting their 20% fee on performance. Almost all hedge fund performance fees include a high water mark, which means that the performance fee only applies to net profits (i.e. profits after losses in previous y |