Wednesday, 24 August 2016
Last updated 31 min ago
Aug 24 2011 | 12:52pm ET
Tudor Investment Corp. is set to introduce a new fee structure for clients that will allow them to choose how to pay levies among the industry's highest.
The Greenwich, Conn.-based firm will unveil a new share class of its flagship BVI Global Fund early next year. Clients who choose to move their assets to the new share class will pay a 2.75% management fee, down from the current share class's 4%. But they'll also pay a 27% performance fee, up from the current 23%, The Wall Street Journal reports.
Tudor's other hedge funds, including its quantitative Tensor fund, are not following suit with new fee structures.
BVI Global is up about 1.1% this year, thanks to a 3.2% jump this month—a month that has seen most hedge funds lose significant ground.