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Weiss Asset Management LP Review

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Weiss Asset Management LP

Weiss Asset Management LP is a fee-only firm based in Boston, Massachusetts. 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 two related institutional clients. If you are looking for a more traditional investment management firm, consider finding one with SmartAsset’s free financial advisor matching service.  

Weiss manages a total of $4.02 billion. 

Weiss Asset Management LP Background

Weiss 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. 

What Types of Clients Does Weiss Asset Management LP Accept?

As noted above, Weiss 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) -- and a qualified purchaser, defined as someone with at least $5 million in investments (different rules apply for companies or trusts).

Weiss Asset Management LP Minimum Account Sizes

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

Services Offered by Weiss Asset Management LP 

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

Investment Philosophy

The investment philosophy at Weiss 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 Korea.

Fees Under Weiss Asset Management LP

The fees for each of the investment funds are as follows:

  • The Brookdale Funds: 1.00% annually
  • The AIM-Listed Fund: 1.5% annually
  • The Opportunity Fund: the fee is calculated separately for each investment and generally falls between 0.50% and 1.00%

There are also performance-based fees at Weiss. It is generally 25% of the aggregate net profits during a calendar year for the Brookdale funds and either 15% or 20% for the Opportunity Fund. There is no performance fee for the AIM-Listed fund.

What to Watch Out For

As noted above, this is not a financial manager. If you are a qualified purchaser and want to buy into pooled investment vehicles, this firm may be for you. Otherwise, consider finding another firm that offers traditional financial and investment management.

Disclosures

There are no disclosures on the record for Weiss in the past 10 years.

Where Is Weiss Asset Management LP Located?

Weiss is located at 222 Berkeley Street, 16th Floor Boston, Massachusetts 02116

Opening an Account With Weiss Asset Management LP

To open an account with Weiss, you can fill out this form to request information, email info@weissasset.com or call (617) 778-7780.

Tips for Investment

  • If you want someone to manage your money consider finding a more traditional financial advisor. Finding the right financial advisor who fits your needs doesn’t have to be hard, though. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • It helps to know what some of your investments will look like in the future. Take a peek with SmartAsset’s free investment calculator.

How Many Years $1 Million 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.

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

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

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%. This reflects the typical return on a conservative investment portfolio. 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