Lawyer’s Thousand Dollar Hedge Fund
Always wished you weren’t too small fry for hedge fund investing…?
…your time has come. A new hedge fund founded by a lawyer could be the one for you.
Bernett Capital Management – Catering to “low- and middle income individuals”
Stats:
* Minimum investment: $1,000
* Money raised so far: $30,050 from four non-accredited investors
* 2% management fee, no performance fee disclose
* Headquarters: Bernett’s apartment on East 81st Street.
* Prime broker: TD Ameritrade.
More Info:
FIN Alternatives: Sarah Bernett is new to the hedge fund industry, but the young lawyer is taking a page from one of the most outspoken of industry veterans.
Bernett, a litigator with seven years experience, last year founded a hedge fund advisory, Bernett Capital Management. On Jan. 1, she founded a hedge fund of her own, catering to low- and middle-income individuals with an “unprecedented minimum investment of $1,000.” But—taking a page from Bulldog Investors founder Phil Goldstein’s playbook—she’s not saying anything more “due to outdated securities laws predicated on the false theory that non-wealthy investors are too stupid to comprehend financial information and act in their best interests.”
