(Pensions Age) The University of Texas Investment Management Co. persuaded about half its hedge funds to renegotiate fees, tying them more closely to performance. The management company, which oversees about $31 billion of endowments for two public universities, said it may save as much as $45 million this year as a result of new fee arrangements. UTIMCO, as the Austin-based non-profit is known, said at a board meeting Friday that 16 funds agreed to concessions, up from five in December, representing about $5.3 billion of assets.
More Hedge Funds to Renegotiate Fees With University Of Texas Endowment
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