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Case interview · Market Sizing or unit Economics math

A fund runs $2 billion at a 65 basis point management fee. Sketch the P&L of that fund, and estimate the AUM at which a newly launched strategy breaks even.

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Start with revenue: $2 billion at 65 basis points is $13 million a year.…

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Concepts behind this questionFermi estimation: decompose, anchor, sanity-check
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