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Tudor cuts fees on biggest fund

The hedge fund is making the changes after remaining clients pushed for lower fees, although it still charges more than most peers

The firm run, by Paul Tudor Jones, will reduce fees for a share class that contains most of its biggest fund's money to 2.25 per cent of assets and 25 per cent of profits, starting July 1. The firm suffered about US$1 billion in client withdrawals last quarter and posted losses this year.

New York

TUDOR Investment Corp, one of the oldest and most expensive hedge funds, is trimming fees as the finance industry's highest-paid money managers face a growing backlash over their lacklustre performance.

The US$11.6 billion firm, run by billionaire Paul Tudor Jones, will