Thanks MrQuick for your thoughts.
You are right about the UBS performance fee being 1.2%( plus performance fee),
I just now checked the PDS.
Personally I am happy to have my Microcap allocation split amongst all of them, Spheria,UBS,Perpetual and WMI but might leave out UBS as I like the ownership structure of Spheria. I used to be in Ausbil Microcap which performed exceptionally well until the 2 managers decided to leave. Can't see that happening at Spheria.
WAM has a superb track record and Geoff Wilson personally invested $1.1M into WMI.
Perpetual has closed to new investors so capacity shouldn't be much of an issue.
