RF1 will be the ultimate test in whether massive Total Expense Ratios can ever be justified

See: > RF1 - Regal Investment Fund - Cheat Sheet

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Regal Funds Management and Phil King have risen swiftly in recent years as a leading alternatives and hedge fund manager. The RF1 LIT is their only ASX CEF and has had impressive overall returns since June 2019, though with significant monthly volatility. RF1 is also unique with 8 distinct strategies (including water, resources and credit) that can't easily be replaced with index funds. RF1 may well have sustained alpha in some of its strategies before expenses, but its performance fees and Total Expense Ratio (TER) are so high that, in the long run, it will be difficult for it to outperform the best passive alternative ETFs. In this post, I reveal just how eye-watering RF1's fees and expenses are. And I also compare with estimates made in its original PDS.
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