Sunday, 19 April 2015
Last updated 8 hours ago
Sep 21 2010 | 8:52am ET
Citadel Investment Group may cut its fees and ease its redemption terms in an effort to attract investors to its flagship hedge funds.
The $11 billion Chicago-based firm does not charge a set management fee on its Kensington and Wellington funds, instead passing along all of its expenses, which have amounted to as much as 8% of assets. Generally, the fee amounts to between 4% and 6%, some three times the industry average.
Those fees may soon come in closer to that average, with Citadel mulling a fee cut. The firm, which suspended redemptions in 2008 after the funds lost 55%, may also ease its withdrawal policies. The funds currently feature quarterly redemptions, but some investors still face long lockups.
The funds have returned about 4% this year. They still must rise another 30% before they have recouped their losses, despite returning 62% last year.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…