Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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AQR Cap's Cliff Asness Criticizes HF Fees

Feb 05, 2013
Jing Chen

Hedge fund manager Cliff Asness is the latest industry professional to slam the industry for the towering fees it charges investors.

Asness, the co-founder of quant fund AQR Capital, told Financial News that “managers like to charge fees as if it’s all alpha,” despite utilizing strategies that can be delivered at lower costs. Hedge funds typically charges investors the standard 2% management and 20% performances fees.

Asness also added that “most hedge fund strategies are more about very competent implementation and fair fees and terms, than they are about ‘genius.’”

At the World Economic Forum in Davos last month, hedge fund guru George Soros said that hedge funds can’t beat the market because the “2 and 20” compensation scheme is eating into profits, according to a Business Insider report.


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