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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
Add BT as a preferred sourcePublished Tue, May 24, 2016 · 09:50 PM
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 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, according to a letter sent to clients on Monday and obtained by Bloomberg. The fees were 2.75 per cent and 27 per cent.
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