Clive Cuts Fees After Losses, Redemptions

Feb 12 2013 | 2:46pm 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.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...

 

From the current issue of