kaal:claim:2739479-029

Advisers typically try to allocate as many operating expenses as possible to the fund so that as much of the net management fee as possible becomes manager compensation, a practice that private fund investors heavily criticize.

To ensure that as much as possible of the net management fee becomes compensation for the managers, investment advisers typically try to allocate as many operating expenses to the fund as possible.

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016), V. Summary of Key Findings and Policy Implications, p. 52
https://ssrn.com/abstract=2739479 · source PDF

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479

• standard private fund adviser compensation practice

mechanismsupport: assertedprivate-funds

The quote above is an exact substring of the source PDF, whose sha256 is b2e7b81a16ab01c73478b62e85068f9dadc5cdd18427241e8bc5e8216a967730. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/601b62300b26fe24...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/2739479-029.md | sha256sum