Question: A hedge fund sets its fee at 2% and a 20% carry with an 8% benchmark. What is the Net IRR to the investors if

A hedge fund sets its fee at 2% and a 20% carry with an 8% benchmark. What is the Net IRR to the investors if over the course of a year if AUM started at $2,000,000 and ended the year at 2,300,000? a. 8.96% b. 10.96% c. 11.30% d. 12.00%

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