thanks for the update and considerate reply Cutty,
Although I probably am a cup half full kind of guy, I also am inclined to do something about issues and here there is plenty to do!
I understand there is a lot of frustration around this fund and with good reason...(I've held forever too)
Though investment manager is active and looks to have some better investments in the fund now?
- A
Performance is very ordinary, circa 30% below the small ords @ 30 Sept
- B
fees huge for such a small fund ( MER 2.3% for the last FY of which management fee was 72%)
- C
discount extraordinarily high at nearly 50%
the questions are, what can we do about it as shareholders?
My thoughts are to
A - petition the shareholders association and maybe ultimately look to replace manager arguing that the current investment management agreement is not in the best interests of shareholders??
B - petition manager and ultimately ASIC and the government to cap fees on small funds
C - look at spreading the news and generating some buying interest to narrow the gap and help everyone out of a spot? - no harm looking for a vulture fund either, like Geoff Wilsons fund?
question is whether anyone else has any ideas or is interested in the ride?
Wazz
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8 | 1101274 | 0.125 |
5 | 173333 | 0.120 |
1 | 30000 | 0.115 |
1 | 150000 | 0.110 |
Price($) | Vol. | No. |
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