I have just read the annual report of the Series 9 OM-IP 220. I notice that the Management fees were over $6.5 million and the Incentive fees were over $19.5 million! This represents nearly 35% of the total revenue and more than half the net increase in value for the year. I assume that the other Series are operating the same way.

The management is creaming off one third of the profits and, given the enromous amount this represents, I am wondering if any other other shareholder has concerns?