Brummer & Partners, a Stockholm, Sweden-based fund-of-hedge-funds firm founded in 1995, is unique in many ways. For one, its Brummer Multistrategy fund of funds does not charge any management or performance fees, unlike its funds of industry competitors. That is partly explained by the fact that the fund invests solely in other Brummer & Partners hedge funds, including Canosa, Lynx, Manticore, MNJ, Nectar, Observatory, Zenit and Futuris. The Swedish firm operates a one-of-a-kind model…