Performance of 3% per annum since inception = Fees of 1.5% management & 20% performance fee for any price gains

In a similar vein to RG8 - here we have the second abomination.

Listed since 2017 and returning a measly 3% per annum.

In return, the managers have sucked away 1.5% per annum in management fees and 20% in performance fees.

Mind you, the performance fees are for any positive price gains - without any benchmark at all.

If this thing was shooting the lights out - the fees would still be exorbitant.

Instead, we have a fund that can't outperform the RBA cash rate and still taking away 20% in performance fees.

Then you have the 17% share price discount. Shockingly, investors aren't interested in a fund that returns 3% per annum - whilst charging 1.5% per annum in management fees and 20% in performance fees.

Judging by the lack on engagement on this forum it is evident that everyone has given up.

Those who were fighting to have this wound up when it was still under the control of Luciano have disappeared.

Yet, what has been achieved since the switching of management firms to Regal.... absolutely nothing.

RG8 and VG1 are a complete disgrace, with no hope in sight.

Question is, what will investors do?