Hints and tips:
...Cathie Wood’s Ark Investment Management is launching its first three active exchange traded funds in Europe, courting a new continent of investors after a run of poor performance and outflows in the US....
...He is already proving a valuable addition to the Board and management teams.”...
...“You would expect me to say this, but I think we did pay our dues in 2021 and 2022, and now we’re on the other side of that,” Wood, chief executive of Ark Investment Management, told the Financial Times....
...Apollo Global Management improperly agreed to pay $570mn to cover the tax bills of its top executives as part of a shake-up aimed at distancing the private equity firm from its scandal-plagued founder Leon...
...As its assets have swelled, through strong performance and client inflows, the firm has faced the challenge of putting cash to work....
...Apollo’s accounts receivable department never knowingly, or as a matter of practice, improperly billed any Apollo-managed funds for expenses that should have been accounted for as management company expenses...
...Apollo told him: “Apollo’s accounts receivable department never knowingly, or as a matter of practice, improperly billed any Apollo-managed funds for expenses that should have been accounted for as management...
...Chemours’ annual cash bonuses as well as long-term incentives were granted upon hitting performance metrics....
...Its performance since its inception makes it the most successful hedge fund in history. Halvorsen’s Viking made $6bn last year....
...Bloomberg first reported Citadel’s and Millennium’s performance....
...The focus is not ‘bigger is better’, it’s on performance.” The last time Tiger raised a similarly sized fund was its 10th vehicle in 2015, which totalled $2.5bn....
...Talent agency Endeavor Group is being taken private at an equity value of $13bn after three years of lacklustre performance as a listed company....
...Macro hedge funds such as Brevan Howard, Rokos Capital and Caxton posted enormous gains in 2022, though performance was more muted last year....
...But challenges arose when Schonfeld struggled to notch up the performance needed to support its higher cost base....
...management plan or facing dismissal....
...take over more and more of asset management....
...Their stronger performance net of fees is even more impressive given that their charges tend to be substantially higher....
...Corvex, another US activist hedge fund with roughly a 4.4 per cent stake in the bookmaker, last month called on the company to turn around an “unacceptable” performance....
...Instead of an annual management fee, the manager passes on all costs to their end investors....
...Ark’s funds have a negative rating from Morningstar, which cites concerns over performance, risk management and the outsized role of Wood, who is chief executive and chief investment officer....
...But in practice, there seems to be little, well, correlation between low correlations/high dispersion environments and active management performance....
...“The specific timing and putting a more positive spin on the challenging historical performance stands out relative to other ETFs.”...
...Public shareholders — who once had a claim to a relatively even split between Apollo’s management fees and the performance fees its funds earn — have in recent years increased their claim on the group’s...
...The four executives will give up their existing packages, receiving pay based on the performance of Apollo’s listed stock instead of returns from its private funds....
...The latter does not charge a performance fee whereas the London-listed fund charges a 16 per cent annual performance fee on gains....
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