《Risk Management and Investment Management》精题解析I

The problem of asymmetric risk sharing between investors and fund managers in the hedge fund industry can be:
 
A.Increased by the existence of a high water mark.
 
B.Increased by high incentive fees for fund managers.
 
C.Decreased by low fund closure costs.
 
D.Decreased by limiting the amount that a fund manager can invest in any fund that he manages.
 
 
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answer:B
 
How to reduce asymmetric risk
 
1.High water mark.
 
2.Lower incentive fees for fund managers.
 
3.High fund closure costs.
 
4.Force a fund manager to invest in any fund that he manages.
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