March 31st 2010
“(1) 1. ...Performance data pertaining to periods after 12/31/06 relates to investors that are charged a 2% management fee and a 20% performance fee. Performance data pertaining to periods prior 12/31/06 relates to investors that are charged a 1.5% management fee and a 20% performance fee Fees applicable to certain investors may be different."
It is always worth the time to peruse the footnotes which is why I am posting another footnote comment.
Clearly the relevant fund manager increased their management fees when business was booming (consistent with the rest of the industry), but I remain curious how long before we see reversion to pre-2006 fee levels.
Anyone? Separately, in case you were wondering... the typo is from the managers letter.
Friday, May 28, 2010
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