Which of the Following Best Describes the 2/20 Fee That

Which of the following best describes the 2/20 fee that is used by most hedge funds?

A) The fund pays a 2% management fee and gives 20% of the profits to the investor.
B) The fund pays a 2% management fee and keeps 20% of the profits.
C) The investor pays a 2% management fee and receives 20% of the profits.
D) The investor pays a 20% management fee and receives 80% of the profits.
E) The investor pays a 2% management fee and gives 20% of the profits to the fund manager.