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Recent studies by Goldman Sachs¹, Barclays² and others have found that Multi-manager funds with full pass-through expense models have been found to outperform traditional hedge fund structures. This paper explores what we believe to be important yet overlooked structural advantages inherent in multi-manager, multi-strategy funds by comparing the multi-manager fund structure to more traditional hedge fund structures.
1. Performance by Fee Type and Level, Barclays Prime Services Capital Solutions, July 2022.
2. The Multiplier Effect, report on Multi-Manager Hedge Funds, Goldman Sachs Global Markets Division, December 5th 2022.
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