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Read the article titled 'Black Rock's secret hedge fund star gets paid more than its CEO' published on 29 Oct, 2021 in Financial Review below,
Read the article titled 'Black Rock's secret hedge fund star gets paid more than its CEO' published on 29 Oct, 2021 in Financial Review below, and answer the following questions. Alister Hibbert is one of Black Rock's best kept secrets. He's the money manager whose hedge fund has enriched the firm, its clients and himself with a near 370 per cent gain over the past decade. Hibbert, 51, has often been the firm's highest paid employee globally. Last year alone, he earned a nine- figure sum more than triple the size of CEO Larry Fink's $US30 million ($39.8 million) payout ..." a) What is the implication of Hibbert's performance under the efficient market hypothesis? (4 marks) b) When measuring a manager's investment performance, we should measure it over an entire market cycle. Do you agree with this statement? Explain. (4 marks) c) Discuss the fee structure in hedge funds. What is the issue with the fee structure and what is the possible solution to it? (Note: this is a general question, not specifically related to the article.) (4 marks)
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