Pacific Investment Management Co., seeking to raise $600 million for a fund that would invest in residential mortgages, agreed to slash its management fee should the fund suffer losses. Pimco REIT Inc., which filed for an initial public offering in April, disclosed last week that its annual management fee would decline to 1.0 percent from 1.5 percent if the fund loses money over a one-year period…“Investors have complained that you shouldn’t be able to earn a fee if the entity is losing money,” said Merrill Ross, a REIT analyst at Wunderlich Securities Inc., a regional brokerage based in Memphis, Tennessee. “But no one has ever offered this as a resolution before.” [Bloomberg]
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
hmmm seems to me this is like a fag version of what a hedge fund is – no profit, no reward, vs. no revenue, no reward
suck it gross, your fucktard newport beach yoga bullshit granola jive don’t work here obama is on to you
That time of the month eh?
- Period Quant
Who would sell me a PUT on that shit.
Hey Bill, if you looking to start a revolution. How about paying out the time value of money investors lost putting it with you or frog legs for lunch would also do.
How about a fund that collects when they make a profit…..and abrogates their fee when they lose. I am tired of experiencing presentations from wealth advisors, financial planners et al that, in essence, advises that you have to ‘bite the bullitt’ when they lose money.