I don't think the consensus is that the management fees are too...

I don't think the consensus is that the management fees are too high. Most of the latest batch of fees were paid for outperforming the benchmark (which is a resources-based benchmark). From memory the performance was 60ish% compared to the benchmark of 40ish%. The manager deserved its performance fee IMO (and all were winners), which from memory was not exorbitant by comparative standards as a peformance fee.