Wednesday, 20 August 2014
Last updated 7 hours ago
Feb 12 2013 | 1:46pm ET
Clive Capital will cut its fees by 20% after two down years that have seen its assets under management fall by nearly half.
The London-based commodities hedge fund said it would reduce fees for Class B shareholders to the industry-standard 2% for management and 20% for performance. The US$1.95 billion firm currently charges 2.5% and 25%, Bloomberg News reports.
The changes will take effect in April and will not affect Clive's operations, it said in a letter to investors Friday.
"As a result of two challenging years for the fund, we have decided to lower our Class B fees," Clive wrote. "We are positive about the opportunities in the commodity markets in 2013 and optimistic on performance going forward."
Clive lost 9.9% in 2011 and 8.8% last year. It had posted double-digit returns in the three prior years.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note