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DE Shaw Cuts Rates

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Like a Thai hooker with the clap.

The New York-based firm, which oversees roughly $19 billion in assets, plans to lower its fees to a 2.5 percent management fee and a 25 percent performance fee, said the person, who was not permitted to speak about the matter publicly. The move comes only a few weeks after D.E. Shaw, founded more than two decades ago by David Shaw, delivered fresh disappointing performance numbers, the investor said.

Previously, the firm charged a 3 percent management fee plus a 30 percent performance fee.

Considering the measures taken indicate they're desperate to hold on to customers, you can most likely negotiate practically anything (no minimum, no lock-up) and maybe even try stuff in the moment that you never agreed to earlier (come in and trade for a day) and it'll go by without much argument.

DE Shaw Cuts Fees [Reuters]

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