Heck no. Hoovering thank you very much. A Hoover has reoccurring 'fees' with bags and other consumables. Mr Wilson ensures his funds always Hoover up those fees.
Do I begrudge him ? No, not a minute. He is upfront with the fee structure and on investor calls when people have asked if he'd reduce the fees basked on the FUM rising, he has said "no" clearly ... and explained he uses the extra fees to employ more brains to analyse etc.
Ann: Appendix 4E and Annual Report, page-14
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