Hey everyone,
Has anyone had any dealings with the fund, Selector Australian Equities?
I am trying to understand their PDS and is mired in contradictory statements.
I have emailed the fund and they have stated they are unable to disclose the funds under management. I have never encountered a fund unwilling to advise how much they are currently managing. Has anyone else encountered this? Is there a requirement to disclose this to potential investors?
They also detail the following fees:
Column 1 Column 2 0 Estimated management costs 1.18% p.a. 1 Estimated transactional and operational costs 1.39% p.a. 2 Performance fee 15.375% p.a. of any out performance of the benchmark 3 Buy / sell spreads +0.25%/-0.25%
In the PDS it states their management fees (total for the whole fund) is $37,620.
Based on this, the fund appears to only have just over 3 million in FUM.
Yet, they replied the $37,620 is a base fee and not a percentage of the fund, which contradicts the estimated management costs, being a percentage based figure.
Has anyone had dealings with this mob?
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Selector Australian Equities Fund - Confused
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