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Weiss Asset Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Weiss Asset Management is an investment management firm based in Boston. It does not take traditional investment advisory clients. Instead, it manages three privately offered pooled investment vehicles, one closed-end investment vehicle listed on the AIM Market of the London Stock Exchange and one related institutional client. These vehicles are all hedge funds.

If you are looking for a more traditional investment management firm that offers financial planning, consider using SmartAsset’s free financial advisor matching tool.

Weiss Asset Management Background

Weiss Asset Management was founded in 2003 and was originally known as Weiss Capital, LLC. It took its current name and changed from a limited liability company to a limited partnership in 2010.

Andrew M. Weiss is the principal owner of the firm and is responsible for the management of each client’s portfolio. 

Weiss Asset Management Client Types and Minimum Account Sizes

As noted above, Weiss Asset Management does not accept clients for investment management, an arrangement where the advisor invests a client’s money in a variety of securities and other investments. Instead, the firm manages four pooled investment vehicles. 

To invest in one of these funds, you must be an accredited investor — defined as someone with either a net worth of at least $1 million or an annual income of at least $200,000 for at least two years with the expectation of also earning that in the current year ($300,000 for a married couple) — or a qualified purchaser, defined as someone with at least $5 million in investments (different rules apply for companies or trusts).

The minimum investment for any of the firm’s funds is $5 million but is subject to negotiation. 

Services Offered by Weiss Asset Management

The main service Weiss Asset Management offers is access to its pooled investment vehicles. Other services, like asset management and financial planning, are not available.

Weiss Asset Management Investment Philosophy

The investment philosophy at Weiss Asset Management differs based on each individual fund:

  • Brookdale Funds: These two funds seek high risk-adjusted returns while still controlling risk. Managers at this fund seek to purchase securities or other assets at a discount to observable and measurable reference values. 
  • The Opportunity Fund: This fund is a portfolio of investments in companies involved in publicly announced mergers, acquisitions or other corporate transactions where statutory “appraisal” or “dissent” rights will be triggered and the firm determines the proposed transaction undervalues the security.
  • The AIM-Listed Fund: This fund has a geographic focus on South Korean companies.

Fees Under Weiss Asset Management

The fees for each of the investment funds at Weiss Asset Management go as follows:

  • The Brookdale Funds: 1.00% annually
  • The AIM-Listed Fund: 1.50% annually
  • The Opportunity Fund: 1.00%, but the fee is calculated separately for each investment

There are also performance-based fees at Weiss. These are generally 25% of the aggregate net profits during a calendar year for the Brookdale Funds and 15% for the Opportunity Fund. There is no performance fee for the AIM-Listed fund.

What to Watch Out For

Weiss Asset Management has one disclosure of legal or regulatory action in its latest filings with the Securities and Exchange Commission. The matter was over seven self-reported violations of rule 105. This rule generally prohibits buying equity securities in an underwritten secondary public offering if the buyer sold short the same security during the restricted period. The matter was resolved on 6/14/22 and the firm paid a total of $6,899,003.65 for a penalty, disgorgement and prejudgment interest. 

One thing to note: as mentioned before, only accredited investors and qualified purchasers can invest in Weiss Asset Management's funds. If you are a small investor or need financial planning, consider finding an advisor through SmartAsset's free matching tool.

Opening an Account With Weiss Asset Management

To open an account with Weiss, you can email or call (617) 778-7780.

All information is accurate at the time of writing.

Tips for Investing

  • If you want someone to manage your money consider finding a more traditional financial advisor. Finding the right financial advisor for you doesn’t have to be hard, though. Our free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • It helps to know how your investments will grow over time. Get an estimate using SmartAsset’s free investment calculator.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research