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A hedge fund with $2.2 billion of assets charges a management fee of 1% and an incentive fee of 20% of returns over a money

A hedge fund with $2.2 billion of assets charges a management fee of 1% 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: (Enter your answers in millions rounded to 1 decimal place.)

Portfolio Rate of Return (%) Total Fee ($ million) Total Fee (%)
a. 3
b. 0
c. 5
d. 10

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