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5. A hedge fund with $1 billion of assets charges a management fee of 2% and an incentive fee of 20% of returns over a
5. A hedge fund with $1 billion of assets charges a management fee of 2% and an incentive fee of 20% of returns over a money market rate, which currently is 5%. Calculate total fees, both in dollars and as a percent of assets under management, for portfolio returns of: a. 5% b. 0 c. 5% d. 10%
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