Wednesday, 27 May 2015
Last updated 8 hours ago
Dec 10 2012 | 5:38am ET
Running a hedge fund is getting expensive, and clients are feeling the pinch.
Most North American hedge funds said that costs have increased this year, and most of them are passing those costs on to investors, according to a new Ernst & Young survey. And that's not likely to make those investors happy, the survey shows.
Almost 60% of hedge funds said their costs have increased over the past year. And "68% of funds passed along these increased costs—up from only 34% in 2011," E&Y's Joseph Micallef said.
"There will continue to be a greater push and pull on this issue of cost allocation for the foreseeable future as investors increasingly show less appetite for costs to be charged to the fund that they did a year ago," Micallef continued. "We don't see this trend changing unless funds greatly improve investment performance returns."
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…