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 fill out this form to request information, email firstname.lastname@example.org or call (617) 778-7780.
All information is accurate at the time of writing.
Tips for Investing
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