Park Place launches UCITS fund with same fees as hedge fund
Mon Sep 27, 2010
Park Place Capital is launching a UCITS fund where the investment management fees are identical to the hedge fund.
Steven Solmonson, president of London-based Park Place
Capital, said that the investment management fees are identical
for its hedge and UCITS funds.
The annual management fees are 1.5% and performance fees are
20% for the Polaris Prime Europe and Luxembourg-domiciled Park
Place UCITS. The onshore fund is on the SEB platform.
Solmonson says: "We spent a great deal of time speaking to
prospective investors from the outset, and over and over, they
were concerned that the total operating cost for the UCITS
structure would be prohibitive. We met with various vendors,
many very good,...
ISSN: 2151-1845 / CDC10004H
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