an equity fund should not charge a performance fee for beating the RBA cash rate by 3%. put it this way, not long ago the RBA cash rate was as low as 0.1%. so these guys were claiming an "outperformance fee" if they delivered more than a 3.1% return, even if the ASX200 index were to go up ( hypothetically ) by 20% !?!! how is that "outperforming" ?? wrong benchmark for an equity fund !
