Corriente to hike fees for new investors

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Mark Hart's Corriente Advisors is planning to raise fees for new investors. The firm, whose $539 million flagship global macro fund returned 7.06% during the first quarter, plans to increase its incentive allocation to 25% from 20% in the near future. Existing investors will not be subject to the increase.

While many have floundered, the Corriente Master Fund is still up this year despite a loss of 12.97% in March. The loss resulted from a short squeeze on financial stocks that occurred when regulators took extraordinary measures to steady the markets. In March, Corriente also gave back money on