I can't disagree with anything you said about fees. I am happy to pay a high performance fee for excellent performance, in my opinion that is payment for a job well done. A benchmark of zero is a bit too low for me. While Regal's RF1 product also has high fees, I am happy with it for a couple of reasons. Their performance actually justifies the fee, and there is at least a benchmark. While the RBA rate of 0.25% currently makes it look like there is little difference from VG1, it is actually setting a benchmark based on the risk free rate of return. In an inflationary environment of say 5%, Regal now has to beat that benchmark whereas VG1 charges a performance fee on that 5% of inflationary increase for doing nothing.
So yep I agree with you completely, someone should ask them a question on it. I do disagree on their performance though, they are down 11% in NTA from January to now, and 18% in share price. If you are worried about another crash, they are only sitting 15% short so I expect them to again lose money in that scenario.
VG1 Price at posting:
$1.83 Sentiment: None Disclosure: Not Held
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