10 December 2007
Thomson News reports today on a Lipper study of UK mutual funds that shows many have not implemented performance fees in the wake of regulatory liberalisation. The following observation from Lipper illustrates why the seemingly benign and boring topic of fees is central to alpha-centric investing.
“As part of the wider industry phenomenon of differentiating between premium priced actively managed funds and lower cost index trackers, Lipper said the performance fee levels of UK collective funds could become increasingly influenced by the ‘two and twenty’ fee structure employed by hedge funds.”
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