GMI 0.00% $1.02 global mining investments limited

gmi flat, page-7

  1. 10,340 Posts.
    lightbulb Created with Sketch. 130
    "Ok, I'm at note 17 "

    Sorry, Note 16
    Anyway, their expenses were (all numbers in '000):

    Accounting, audit and other professional costs 97
    Directors’ fees and related expense 161
    Basic Management Fee 1887
    Performance Fee 4061
    Other expenses 365
    Service Agreement Fee 259
    -------------------------------------------------
    Total 6830

    Net Assets Start of Year 88,460
    Net Assets End of Year 145,581

    I aint paying anyone that sort of money to buy BHP & RIO for me.
    Quite capable of doing it myself.

    I'm not saying that these guys dont know what they're doing, its just that the discount acknowlwdges the fact that someone will cream off a certain percentage of the returns.
    It adds up over time.
    You've seen those 'Industry Super - no fee' ads, havent you ?







 
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