June 1, 2018
Journal Articles
Complimentary CONTENT
A Comparative Analysis of Performance Fees
By: Megan Czasonis, Mark Kritzman, Baykan Pamir, David Turkington, State Street Associates
June 1, 2018
By: Megan Czasonis, Mark Kritzman, Baykan Pamir, David Turkington, State Street Associates
By Megan Czasonis, Mark Kritzman, Baykan Pamir, and David Turkington.
Published in the Journal of Portfolio Management, Summer 2018.
Investors are often faced with a choice between a flat fee and a performance fee. Although there are no simple rules to guide investors in their choice of a fee structure, we believe that our certainty equivalent methodology will enable investors to determine the optimal fee structure for a given set of circumstances.
Author Bios
Megan Czasonis
Megan Czasonis is Managing Director and Head of Portfolio Management at State Street Markets
Mark Kritzman
Mark Kritzman is a senior lecturer at MIT Sloan School of Management and a founding partner of State Street Associates
Baykan Pamir
David Turkington
David Turkington is Senior Managing Director and Head of State Street Associates at State Street Markets
State Street Associates
1. Peter L. Bernstein Award for Best Article in an Institutional Investor Journal in 2013; Bernstein-Fabozzi/Jacobs-Levy Award for Outstanding Article in the Journal of Portfolio Management in 2006, 2009, 2011, 2013 (2), 2014, 2015, 2016, 2021; Graham & Dodd Scroll Award for article in the Financial Analysts Journal in 2002 and 2010. Roger F. Murray First Prize for Research Presented at the Q Group Conference in 2012, 2021, 2023. Harry M. Markowitz Award for Best Paper in the Journal of Investment Management in 2022, 2023. Doriot Award for Best Private Equity Research Paper in 2022.