Great question Endaj! I saw the same, and was beyond furious.
I have no idea either. The performance fee is supposed to be subject to a high water mark. They haven't even managed to claw back the IPO price (based on the share price)... and they are paying themselves half a million.
I don't know if you saw my previous posts.. but I was stating how outrageous it is they base their performance fees on the cash rate. If they beat 1.5% they have a party and pay themselves a bonus. Sorry, but I can place my funds in a term deposit and beat the cash rate. I don't need a fund charging ridiculous fees to do this!
The thing that amazes the most is someone with such a public persona, being Paul Clitheroe, would associate with such a corporate gouger.
Rest assure there will be people (a person) praising their performance...
Will it ever reach a dollar so we can all sell this pig!
MA1 Price at posting:
85.5¢ Sentiment: Sell Disclosure: Held
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