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The income hedge funds receive from performance fees has fallen drastically this year, dropping more in the first half of 2015 than in the previous seven years combined. The fear is the drop in performance fees, coupled with weak returns across the hedge fund industry, could force both new and established funds into closure. According to Eurekahedge, the data provider, new hedge funds are charging average performance fees of 14.7 per cent, a sharp drop on the 17.1 per cent typically charged in 2014 . Troy Gayeski, a partner at SkyBridge, the US fund of hedge funds company, expects more fee reductions in light of weak returns across the industry this year.However, Michael Malquarti, co-fund manager at Altin, the Anglo-Swiss fund of hedge funds company, welcomed the reduction in fees.
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