4 Comments
 

I think there's some circular reasoning here. When people use LO as a noun, they typically aren't just referring to funds that don't short -- instead, they're referring specifically to mutual fund type structures that only charge management fees. 

There are a decent number of funds that don't short and also charge incentive fees (abdiel, baupost). But typically this is not exactly what people are referring to when they talk about LOs, because these funds look more like hedge funds than mutual funds in terms of structure.

 

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