Manager of Managers Excessive Fund Fee Cases—An In-Depth Analysis
July 01, 2019
| The Investment Lawyer
- “Manager of Managers” cases: A plaintiff alleges that the adviser provides insufficient services to justify the amount of advisory fee retained—given that the subadviser allegedly does most of the work.
- “Third-Party Subadvised” cases: A plaintiff alleges that an adviser subadvises third-party funds at much lower rates than the adviser charges its own funds, even though the advisory services are substantially similar to the subadvisory services.
This article provides an in-depth analysis of the manager of managers’ cases and lessons learned from those cases.