(Reuters) Hedge fund firm Caxton Associates said it plans to cut the fees it charges investors following a period of lower returns for the industry, a letter to investors seen by Reuters showed. The New York-based firm, which employs around 190 staff and manages $8 billion in assets – said the new fee structure on its Caxton Global fund would take effect from Jan. 1, 2017 and would be based on the amount of money a client invested.
Caxton, founded by Bruce Kovner in 1983, joins other high-profile hedge funds including Och-Ziff Capital Management and Tudor Investment Corp in cutting fees as investors demand better value for money.
