Elliott Management is one of largest hedge fund firms in the United States. Elliot now holds $275
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Elliott Management is one of largest hedge fund firms in the United States. Elliot now holds $275 billion in its hedge fund account. Elliott charges a 1% management fee based on assets under management at year end, and a 15% incentive fee based on returns in excess of an 8.25% hurdle rate. In its first year, Elliott appreciates 19.75%.
Calculate the investor's net return. Assume that management fees are calculated using end-of-period valuation, and the performance fee is calculated net of the management fee.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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