Finance

Two and twenty is long dead. Hedge fund fees fall further below onetime industry standard

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Justin Chin | Bloomberg | Getty Images

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A previously unknown hedge fund known as White Square gripped the headlines last week after the Financial Times reported it to be the first-known casualty among those who shorted GameStop

But betting against GameStop wasn’t the death knell for White Square. In fact, its performance had recently rebounded. 

As White Square tells it in the letter announcing the firm’s closure: “We experienced first-hand, the shift in trend away from hedge fund investing to cheaper alternatives.” The firm noted that two investors redeemed and rediverted that capital into cheaper passive funds or private…



Source cnbc.com

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