Platinum cuts fees to remain competitive

Platinum Capital Management is set to launch a distressed debt and a China fund. It has also reduced fees on some of its single manager products and fund of funds. Platinum is set to launch the distressed debt portfolio following the acquisition of the First Boston Special Situations fund. The China fund will launch in late October and will be a single strategy hedge fund that invests in Chinese equities. From September 2003, investors in all Platinum funds will benefit from the lower annual management fee of 1.5% (previously 2.5%) and substantially lower performance/incentive fees...