{
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 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/two-and-twenty",
 "identifier": "kaal:entity:two-and-twenty",
 "name": "Two and twenty",
 "termCode": "two-and-twenty",
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 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
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   "value": 3
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   "value": [
    "2016",
    "2019"
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  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2739479-012",
   "identifier": "kaal:claim:2739479-012",
   "text": "The stronger performance of activist strategies lets activist private fund managers keep charging the higher 2 and 20 fee structure that other fund managers can no longer demand.",
   "abstract": "The higher performance of this investment strategy allows activist pri- vate fund managers to use the higher 2/20 fee structures, which other fund man- agers can no longer demand.",
   "citation": "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",
   "datePublished": "2016",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "activist private funds",
    "as of 2015"
   ],
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   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998033-032",
   "identifier": "kaal:claim:2998033-032",
   "text": "Blockchain enables managers to charge per transaction fees, and that capability undermines the existing two and twenty fee model.",
   "abstract": "Blockchain technology enables managers to charge per- transaction fees which undermines the existing 2/20 fee model.",
   "citation": "Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [],
   "source_pdf_sha256": "aafb1be3c25cd33da477d759df9ca2f856f0a8fe133d6396da2e75d0af573dbd",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3409548-002",
   "identifier": "kaal:claim:3409548-002",
   "text": "The traditional 2 and 20 fee model has become increasingly difficult to justify, and embracing modern financial products is what allows managers to produce returns that still support that model.",
   "abstract": "In recent years, it became increasingly more difficult to justify the 2 and 20 fee model.4 Embracing modern financial products allows them to produce returns that can still justify that fee model.",
   "citation": "Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548",
   "datePublished": "2019",
   "claim_type": "condition",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "recent years of compressed hedge fund returns"
   ],
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  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'two-and-twenty'. Derived node: a roster, not an adjudicated definition."
}