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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (36014)	11/24/2009 4:02:25 PM
From: Paul Senior	Respond to of 78661

Thanks. Hadn't seen that. I keep forgetting to check for "management fees".

To: Spekulatius who wrote (36014)	11/24/2009 5:47:03 PM
From: Grommit	Read Replies (2) \| Respond to of 78661

Thanks for the info. That mgmt fee seems to be as part of the IPO. Unless you are referring another 4.8% fee. "(1) Represents the underwriting discount with respect to the shares of our common stock sold by us in this offering." worse is this basic hedge fund crap: "Fifth Street Management serves as our investment adviser. We pay Fifth Street Management a fee for its services under the investment advisory agreement consisting of two components — a base management fee and an incentive fee. The base management fee is calculated at an annual rate of 2.00% of our gross assets, which includes any borrowings for investment purposes. The incentive fee consists of two parts. The first part is calculated and payable quarterly in arrears and equals 20% of our “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter, subject to a preferred return, or “hurdle,” and a “catch up” feature." I'll sell mine in the AM. I am up so far. :o)