Hedge fund exit terms

Tue Jul 1, 2003

Exit terms from hedge funds are an increasingly touchy issue for investors - and not least the so-called 'gate' system applied by some managers to limit assets they allow to depart on any one dealing date.

The problem with this for investors is simple but awkward: as more of the best brand names impose gate provisions, it makes an increasing proportion of their portfolio illiquid. For this reason, an ever...


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