Monday, 23rd November 2009

 

18 September 2009 - Press Briefing

Hedge funds pressed on fee structures despite slowdown in liquidations

The rate of hedge-fund liquidations continued to slow in the second quarter but surviving funds are being compelled to reduce their fees, Hedge Fund Research said on Thursday, according to a report in The Wall Street Journal.

Just over 3% of industry players, or 292 vehicles, folded up in the three months to June 30, HFR said, down 22% from the 376 funds that liquidated in the January-March period.

However, the average incentive fees earned by managers dropped again for the third successive quarter, and now stand at 19.18% - down from 19.34% in the first quarter of last year.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

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