Reuters – A fund that invests in an index of EU-regulated hedge funds is waiving its annual charge to clients, a rare move in an industry known for high fees, in a bid to win back hedge fund investors driven away by the financial crisis.
The Axiom UCITS Alternative Investable Index Fund, launched in December 2010, has dropped its 1 percent management fee and replaced it with a 10 percent performance fee, it said on Monday.
