Friday, 3 July 2015
Last updated 13 min ago
Feb 5 2013 | 2:29am ET
AQR Capital Management chief Clifford Asness is chiding his peers over the fees they charge.
Echoing George Soros' recent criticism that high hedge fund fees will make it difficult for the industry to keep pace with the broader markets, but in an even more biting way, Asness told Financial News, "Most hedge fund strategies are more about very competent implementation and fair fees and terms than they are about 'genius.'"
"Hedge funds generally offer a nice portfolio (gross of fees!) of passive beta, alpha, and a middle ground we call hedge fund beta or style premia," Asness continued. "But, unfortunately, managers like to charge fees as if it's all alpha."
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…