Just remember:
"investment portfolio performance is before fees, expense and taxes to compare to the relevant index which is also before fees, expenses and taxes".
That's perhaps the funniest thing I have ever read and pretty much sums up WAM - and their efforts to conceal real performance figures.
Last time I checked an "index" was simply a basket of securities...
Yes, I can understand figures before tax - but before fees and expenses. What a crock of...
Now for all the WAM zealots to explode in fits of franking credits.
Ann: Outperformance drives record profit and FF div, page-15
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