Saturday, 27 December 2014
Last updated 2 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.