Agree the fee structure is terrible, but also think this is up to all shareholders to voice their frustration to management.
As far as shareholders of VGI being happy... it's still majority owned - in a large way - by the founders.
I can assure you, being a small holder of VGI, I would much prefer a fairer fee structure for VG1 and VG8.
You should never charge a performance fee without an appropriate benchmark. Plain and simple.
The question is, why hasn't this been brought up with management during the many q and a. I would love to hear them to try to convince holders this is a fair fee structure.
There is no reason they couldn't put together an appropriate benchmark - to base the performance fee off.
If that's not bad enough - a flat 1.5% management fee, when you compare most active funds, is the upper limit.
Without performance, both fees will surely add to the selling pressure.
I rate VGI highly for their investment processes. But will never defend the fee structure.
As far as missing out on the fastest bull market - not phased. It's utter madness ATM. When will it end? I am sure it will be a delayed reaction - like in March.
VG1 Price at posting:
$1.82 Sentiment: None Disclosure: Held
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