This fund has returned 1.4% per annum since it floated in 2019.
Mind you, that is the investment return - without taking into account there is a share price discount of like 16%. In effect, all investors are sitting on substantial losses if they bought at the float in 2019.
And what do the managers get in return for delivering absolutely nothing - other than incompetence.
A management fee of 1.5% AND a 20% performance fee for ANY POSITIVE PRICE GAINS.
That's right. They stick the money in the bank - and you are paying 20% performance fees.
This kind of sickening greed, coupled with incompetence, is the reason the masses will dance on the grave of fat cat funds managers who have no more skill than the next private school boy with his country road bag.
To the managers - wind the piece of crap up - and get another job. Or, better yet, just do what the majority do - follow the index and then pretend to be the oracle.
RG8 Price at posting:
$2.03 Sentiment: None Disclosure: Held
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