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Investor survey reveals improvement in fee terms
The relationship between hedge funds and their investors continues to show signs of improvement with the latest Preqin investor survey reporting that over 60% of respondents believe fund terms had turned in their favour.
Charting progress over the last 12 months via interviews with 45 institutional investors, the survey offers a ringing endorsement for the industry’s reaction to investor-led criticism of fees. According to 2010 survey participants, management fees have shown the single largest improvement, backed by 47%.
Redemption frequency and transparency at fund level tied for second in terms of areas investors though had shown the biggest improvement, both on 42%, although, conversely, transparency topped the juxtaposed list of terms requiring further improvement, on 53%.
Overall, only 7% of those investors surveyed thought terms had changed in favour of the manager in the past year.
In 2009, 76% of respondents to a Preqin survey said hedge funds fees were too high.
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
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