• 8th Circuit Rules on Investment Manager Performance Fees
  • May 15, 2003
  • Law Firm: Akin Gump Strauss Hauer & Feld LLP - Office
  • A recent decision by a federal court of appeals held that an investment manager's performance fees are permissible under ERISA as long as the fees are reasonable, even though the manger has the ability to affect the timing or amount of the fee. This novel decision is directly contrary to the position of the Department of Labor (DOL) and a long line of cases that have adopted the DOL's more restrictive view.