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A hedge fund ends Year 1 with a balance of $276 million and year 2 with a balance of $324 million. There were no deposits
A hedge fund ends Year 1 with a balance of $276 million and year 2 with a balance of $324 million. There were no deposits or withdrawals. The increase in assets was from financial performance alone. This fund deploys a pref of 8% and a typical 2-and-20 fee structure. What is the total amount of fees paid, in millions with three decimal places of accuracy (e.g., 5,478,000 should be entered as 5.478)?
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