Why is it that investment funds need millions to get started?
Among successfull investment funds that now manage billions, all of them started with at least 1 million. What do you need that millions for, what do you have to invest in to get started?
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Answer by jazz8
They need high asset value as the expense ratio for paying for fund management is 1 to 2% of the assets of the fund. Mutual funds are a lot higher than $ 1M. Hedge funds charge 1 to 3% but will also take 20 to 40% of the profits so there assets could be $ 1M and above.
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