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Will Danoff Leaves Fidelity Contrafund To Manage Sequoia Fund
SEQUX's management fee is 1.00%, the same as its ER, because the management company is responsible for all the fund expenses (similar to what American Century does with its legacy funds like TWCGX). But for the sake of argument, let's say that Danoff gets to keep all of it. That's still only $55M ($5.5B fund).
So, if Sequoia stops printing prospectuses and investor statements, stops taking in money and selling shares, stops doing all the other things that fund distributors do, and if its management company stops taking any cut, and ..., then its fee might go up just a tad instead of a whole lot to pay for Danoff.
Of course, he could volunteer take a pay cut to go back to having fun managing something smaller than a whale.