From Bloomberg Business Week,

"Standout returns in the 1990sfueled by celebrity managers such as George Soros and Seth Klarmanhelped hedge funds command exorbitant prices. A 2% annual management fee and a 20% cut of profits (variously known as the performance or incentive fee) became the norm for most firms, even for startup managers with little pedigree. One selling point was that hedge funds had the flexibility to pursue strategies other money managers couldnt. They might make big bets on assets declining in value as well as rising or even make money on the markets volatility."

But mediocre performance since the 2008 financial crisis has sparked an investor mutiny. Now even the best-known managers are coming around to the notion that they need to make some concessions to stay competitive."

What do you expect with fees charged by hedge funds in the recent years compared to the 1990s?

Select one:

a.increase

b.decrease