We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

The Croupier's Rebate

23 February 2007

The conventional incentive arrangement is unfair. Managers earn a windfall in good years but keep the fees even if they lose money later. Some investment firms have found a better way. In bad years, they refund past performance fees to their investors.

This content is for Subscribers only


Email a friend

Please complete the form below.

Required fields *


(Separate multiple email addresses with commas)