Aperture Investors
Aperture Investors offers actively-managed strategies with performance-linked fees. Each strategy is charged a fee competitive with that of passive ETFs in the same category when performance is at or below its stated benchmark. If outperformance is generated, each strategy is charged a performance-linked fee of 30% on returns generated in excess of that fund’s stated benchmark, up to a cap in the United States.
- Aperture is a response to the widespread use of fixed fees in active asset management, which reward managers regardless of whether they produce outperformance for their clients.
- Investment teams receive modest base salaries by industry standards and stand to earn most of their compensation from performance-linked fees.
- Investment teams can receive up to 35% of the firm’s performance-linked fees paid on realized outperformance, or 10.5% of total outperformance.