State of Institutional Separate Account Fees 2019

About the Report

eVestment has manager-reported stated fees on thousands of traditional vehicles (separate/segregated accounts, pooled/commingled funds, and mutual funds), as well as thousands of alternative products. eVestment also extracts actual fee data from thousands of public fund documents, showing the fees managers and public funds have negotiated.

This report explores the state of separate account fees and the asset-based threshold levels associated with these tiered structures. Nearly 8,000 separate accounts of equity and fixed income strategies, covering various styles and regional focuses, are included in the full report. Products which were active on eVestment as of June 2018 were used for the analysis.

Report Highlights:

• Average separate account fees investors are charged on the first dollar allocated
• Average total fees on allocations ranging from $10M to $200M
• Dispersion and concentration of total fees managers charge at $25M, $50M, $75M and $100M
• Most common asset thresholds levels managers use to set fees
• Negotiated versus quoted fees and proportion of products with fee decreases