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A hedge fund with $1.5 billion of assets charges a management fee of 2% and an...

A hedge fund with $1.5 billion of assets charges a management fee of 2% and an incentive fee of 20% of returns over a money market rate, which currently is 6%. Calculate total fees, both in dollars and as a percent of assets under management, for portfolio returns of: (Enter your answers in millions rounded to 1 decimal place.)

Portfolio Rate of Return (%) Total Fee
($ million)		 Total Fee
(%)
a. −5
b. 0
c. 6
d. 18
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