ExodusPoint, led by Michael Gelband, is launching a new share class tying performance fees to the yields of short-term Treasury bills, reflecting changing market dynamics.
Multi-strategy funds, previously thriving during the pandemic, are now facing challenges due to high expenses and diminished returns, putting investors in a stronger negotiating position.
The hedge fund landscape is witnessing a shift, as ExodusPoint's new share class may signify a broader trend towards performance fees that better align with market benchmarks.
Despite improving market conditions, multi-strategy funds struggled recently, leading to significant changes in fee structures, indicating a more cautious approach from institutional investors.
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