Fees over 2% are considered steep, and many mutual funds offer actively managed funds for around 1% or even less.
While the legal battle was going on, BAA sold Gatwick - with the West Sussex airport being bought by US-based investment fund Global Infrastructure Partners for around £1.5 billion in late 2009.
Such funds account for around 10% of total hedge-fund assets.Few hedge funds are as hugely leveraged as LTCM.
Its president is a former Nomura banker who previously led a government-run fund for turning around troubled companies.
"It's the largest fund for women around the world," Musimbi Kanyoro, the fund's president and chief executive, said on the phone from New York.
Then you also encourage donors to give to a slush fund for use around the country, saying, "It is critical that we have a reserve fund to give to these efforts to ensure victory and protect donor identity".
Most payouts by the comptroller's Office of Unclaimed Funds are for around $100, but a few are for more: one account worth $1.7 million is sitting in the comptroller's coffers.
According to Standard & Poor's Micropal, which tracks over 40,000 funds around the world, some 6,000 offshore funds now account for around 25% of the world's $8 trillion in mutual fund assets.
Next week he will announce the arts funding for 2011-12 – around a 10% flat cut for most.
TourPal intends to use some of its new funding for marketing around the social recommendations feature on iOS, and also more generally to support the launch of its new Android app.
