Oct. 10, 2022
October 10, 2022 The vehicles used for the private funds are often established by the investors. In such case, the investor designates the admin, custoridan, auditor and legal adviser for the fund. And, the fee and cost borne by the fund is decided by the investor. The investment advisor does not have any power as to the fee and cost borne by the fund. Hence, it would be appreciated if you could show how the rule you suggested applies to the investment adviser.