FT.com / Companies / Financial Services - Hedge funds misrepresent facts, says research:
"Managers most commonly misrepresented the amount of money they had entrusted to their funds...."
As previously mentioned, carveouts allow the presentation of a product AUM that is included in another product's AUM. Many people would simply add these product AUMs to get a firmwide AUM. Even with the firm AUM presented, summing the mandates will present a higher figure and sow confusion.
Wednesday, October 14, 2009
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