Hedge funds have charged their investors $1.8 trillion in fees from 1969 to the end of December 2024, according to data from hedge fund investor LCH Investments on Monday.

Hedge-fund investors often gripe about high fees. A new report puts the problem in sharp relief. Just over half of the industry’s total gross performance was eaten away by fees over the past two decades,

Of the $3.7 trillion in profits they have earned as an industry since 1969, nearly half or a staggering $1.8 trillion was gobbled up as fees, according to estimates by LCH Investments, a fund of hedge funds.