AQR Capital’s Clifford Asness criticizes 2 and 20 fees

May 20th, 2010
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In a speech earlier this week at a CFA Institute conference, AQR Capital’s Clifford Asness criticized hedge fund fees saying that the standard 2 and 20 structure is not always justifiable. According to Reuters, Asness stated that collecting the high fees for basic strategies that benefit largely from overall market performance is unfair to investors. He supported his comments by demonstrating how hedge funds are becoming increasingly more correlated to market indices like the S&P 500.

Before founding AQR Capital Management LLC in 1998, Clifford Asness launched the Alpha hedge fund at Goldman Sachs & Co. Last year, AQR Capital launched a series of hedge styled mutual funds, which have lower fees than hedge funds.
For Detailed Investor Profiles on these Investors, click below:
AQR Capital Management LLC
Related People: Clifford Asness, Ph.D.; David G. Kabiller; John M. Liew; Robert J. Krail
Related Entities: AQR Absolute Return Master; AQR Delta Master Account; AQR Global Asset Allocation; AQR Global Equity Master; AQR Global Stock Selection; AQR International Equity Fund; AQR RC Equity International; AQR Small Cap Value Fund LP
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News

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