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Working Papers

Adjusting Opportunity Fund Fees

Working paper #569
Joanne Douvas

Opportunity fund performance should be correlated with core performance, equivalent leverage, plus a risk premium. However, this is often not the case. Fee structures must be continually adjusted to reflect the risk, return, strategy, and market condiditons in which these funds operate. This paper explores opportunity fund fee structures and the disconnect that can arise between compensation and investment performance under varying market conditions.

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