Take note doctors:
The high cost ofhedge funds is getting even higher thesedays thanks to a few sneaky managersin the industry. A recent article inpoints out that somehedge fund managers are now tackingon expenses that used to be included intheir management fee. Adding insult toinjury is the fact that these managersaren't lowering their fees. Simply put,they're charging you more for the sameservices they've been providing to youall along. Michael Hennessy, managingdirector at Morgan Creek CapitalManagement, told that"this is happening more and more." Before you decide to give your hedgefund manager an earful, be aware thatnot all managers are following thistrend. If you want to find out just whatis included in your manager's fee, thearticle suggests asking the fund companyfor its private placement memorandumor partnership agreement, whichdifferentiates between managementfees and extra expenses.