AQR Capital’s Clifford Asness criticizes 2 and 20 fees
|May 20th, 2010||
|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.
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