My friend opened a fund called xxx fund advisors, managing half billion asset (only a few clients I guess). Its strategy is statistical arbitrage holding 1 to 3 days. I heard its return is single digit. I checked Sec website, last year its revenue is only 2 million. Is that possible so low? Even 1% management fee is close to 5 million.
The other question, what is the difference a company named fund advisor from normal hedge fund?