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Feb 12, 2024 • 4 min read

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U.S. Middle East Strikes:

On February 9, from 3 a.m. to 9:40 p.m. Sanaa time, U.S. Central Command (CENTCOM) carried out defensive operations targeting two unmanned surface vessels (USVs), four anti-ship cruise missiles, and one land attack cruise missile (LACM) in Houthi-held regions of Yemen. These were deemed ready to target vessels in the Red Sea, posing an immediate danger to both U.S. Navy and commercial ships. The strikes aimed to ensure the safety and freedom of navigation in international waters, enhancing security for maritime operations.
The following day, February 10, between 4 and 5 p.m. Sanaa time, CENTCOM executed additional self-defense actions against two USVs and three anti-ship cruise missiles located north of Al Hudaydah, Yemen. Like the previous day's targets, these were identified in areas under Houthi control and were considered a direct threat to U.S. Navy and merchant ships operating in the Red Sea. These proactive measures by CENTCOM are part of ongoing efforts to maintain safe and secure maritime routes for international shipping.

Hedge Fund Fees:

In 2023, Barclays reported that hedge fund fees reached their highest levels since 2016 due to the industry weeding out lower-performing, cheaper funds. This left behind funds that, while more expensive, boasted better performance. The average fees were 1.59% for management and 18.2% for performance. As interest rates rise, making even basic savings more lucrative, investors now demand greater returns from hedge funds to warrant these higher fees.
The trend is moving towards adjustable performance benchmarks, with investors expecting returns of at least 9% in 2024. Management fees, typically a fixed percentage of the assets under management (AUM), cover the operational costs of running a hedge fund, including salaries, office expenses, and administrative services. On average, hedge funds charged a 1.59% management fee in 2023.
Performance fees, on the other hand, are based on the hedge fund's profitability and are a percentage of the investment gains. With an average of 18.2% in 2023, these fees are charged only if the fund exceeds certain benchmark returns, incentivizing fund managers to perform well. This structure ensures that managers' interests are aligned with investors’, as their compensation directly depends on their ability to generate profits above a predefined threshold.

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