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In 2012 Guy Spier, whose $100 million-plus Aquamarine Capital Management has a class of shares that follows Mr. Buffett's old structure, referred to the "microscopically small proportion of investment managers who decline to charge a management fee".
They charge a management fee, generally around 1.5 percent of the assets they oversee.
In this branch, firms can still charge a management fee of 1 percent.
Unlike most of its competitors, Millennium does not charge a management fee.
Most portfolios charge a management fee of 2 percent on the total assets, an incentive to welcome new investors.
(Hedge funds typically charge a management fee of 1 to 2 percent and take a 20 percent cut of profits provided they pass performance milestones known as high water marks).
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Personal Capital charges a management fee of just under 1percentt of assets managed, which is all-inclusive of brokerage and other fees.
Covestor charges a management fee of about 1.5percentt of your assets being managed, or $12.50 per month (whichever is greater), which it splits with the investors being tracked.
The site makes money by charging a management fee of 0.25% to 3.00%, depending on the money manager, who gets three quarters of the fee.
Then the fund of funds charges a management fee on top of that.
Mr. Kroijer, who started his fund with $3.5 million and increased its assets to about $300 million, charged a management fee of 1.25 percent and a performance fee of 20 percent.
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