{"id":9566,"date":"2009-01-07T00:00:00","date_gmt":"2009-01-07T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"give-backs-and-free-management-from-some-hedge-funds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2009\/give-backs-and-free-management-from-some-hedge-funds.html","title":{"rendered":"Give backs and free management from some hedge funds"},"content":{"rendered":"<p>BloggingStocks &#8211; Over the past few weeks you probably saw signs in retail stores touting &quot;big sales&quot; with discounts of 50% to 70&amp; off. It seems that Wall Street has caught on to main street&#8217;s way of doing business &#8211; discounts, discounts, discounts!<\/p>\n<p>The Renaissance Technologies LLC, a large hedge fund, has <a href=\"http:\/\/online.wsj.com\/article\/SB123111803544652709.html\">waived all of its management fees for 2009<\/a>. Originally it charged a 1% fixed management fee, but with the new policy it will take a $30 million dollar haircut. However, the other larger Simon&#8217;s Renaissance Institutional Equities Fund will not cut its management fee in 2009. Other funds are using similar practices. The Citadel Investment Group LLC gave back about $300 million dollars in fees it collected in 2008.<\/p>\n<p>Renaissance, like many other hedge funds, suffered losses in 2008 ranging from 12% to 16% but managed to beat the S &amp; P losses by 4-6%.<\/p>\n<p>  <strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.bloggingstocks.com\/2009\/01\/05\/give-backs-and-free-management-from-some-hedge-funds\/print\/\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BloggingStocks &#8211; Over the past few weeks you probably saw signs in retail stores touting &quot;big sales&quot; with discounts of 50% to 70&amp; off. It seems that Wall Street has caught on to main street&#8217;s way of doing business &#8211; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3805,5244,5245,2355,2462,333,1014,903,129,5173,663,5247,2587,5246,4465,4464],"class_list":["post-9566","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-30-million","tag-amp-off","tag-business-discounts","tag-citadel-investment-group","tag-citadel-investment-group-llc","tag-doing-business","tag-haircut","tag-institutional-equities","tag-losses","tag-management-fees","tag-management-fee","tag-million-dollars","tag-renaissance-technologies","tag-retail-stores","tag-signs","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9566"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9566\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}