Alternative Investment Performance Fee Arrangements and Implications for SEC Regulatory Policy

This paper first examines the effect of two basic types of investment performance fees, which differ in the method of performance measurement, on the amount and variability of investment advisory compensation. Then this effect is related to the risk borne by fund investors. From this analysis, policy implications for the SEC's regulation of incentive fee plans are drawn, with considerations of equity, resource allocation, and minimization of restrictive rules.

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Year of publication:	1975
Authors:	Modigliani, Franco ; Pogue, Gerald A.
Published in:	Bell Journal of Economics. - The RAND Corporation, ISSN 0361-915X. - Vol. 6.1975, 1, p. 127-160
Publisher:	The RAND Corporation

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005551166