Hedge funds struggling but still charging investors for travel and drinks bills
Clients often end up paying more than twice the industry's standard fees of 2 per cent of assets and 20 per cent of investment gains
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New York
INVESTORS are starting to sour on the idea of reimbursing hedge funds for multi-million- dollar trader bonuses, lavish marketing dinners and trophy office space.
Powerful firms such as Citadel LLC and Millennium Management LLC charge clients for such costs through so-called "pass-through" fees, which can include everything from a new hire's deferred compensation to travel to high-end technology.
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