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

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

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

Maglan Capital: Some Lessons Learned From Puerto Rico

Jul 13 2017 | 8:00pm ET

Although Maglan Capital has not been invested in Puerto Rico for more than three...

 

From the current issue of