The hedge fund responds to investor requests on liquidity, costsBalyasny Asset Management is softening its traditionally high fees and restrictive terms.
As of May 2010, the firm's flagship multistrategy fund, Atlas Global Investments, is lowering fees, lifting gates and providing investors with a third share class in response to concerns about liquidity and cost.
Previously, the most liquid -- and expensive -- share class allowed quarterly redemptions upon 65 days' notice. That share class now allows monthly redemptions upon 45 days' notice. A one-year soft lockup that would impose a 5% penalty for early withdrawals has been scrapped. The fees remain 2% of assets and 20% of