No I walked away with no loss at all. But all other members of the fund had to pay me, for the manager's error.
I post that experience as an anecdote.
Should I be more or less mercenary, as I know other members where defrauded? Is defrauded the appropriate term? I think it is.
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I too care less for a debate on the merits of active v passive management OR for that matter, the efficacy of portfolio/asset manager's management v director's management.
I point only to Buffett's 10 year bet... and his conclusions, and result of the bet.
Of which the takeaway is, I believe FEES ENDURE...
-------------------------------------------------------------------------- Bennelong Concentrated
The 0.0141 charge as per their last year. A fair estimate for the last 7 years, as the fund has performed consistently. 2016 was an underperformance?