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, but