Fees on Fees

摘要

Guaranteed Returns Diversified Inc. is just the sort of overpromising hedge fund operator that makes regulators queasy. GRDI's wares include the oxymoronic Leveraged Safety Fund and York Partners L.P., which claims that its "sophisticated securities trading strategy has generated cumulative returns of up to 148% for investors." An amazing 80,000 visitors have viewed GRDl's outlandish claims since its Web site (www.growthventure. com/grdi) went live in February. Many have been steered there by online hedge fund advisers and investment bulletin boards. Turns out the site is a spoof. GRDI (pronounced "greedy") was cooked up by the Securities & Exchange Commission to illustrate investors' vulnerability to the hedge fund industry's often flimsy, over-the-top boasts.