BKI needs to learn from Magellan, page-3

I am not sure that this is a fair comparison. The Fee to contact ios around 0.18% and the fee for calendar 2018 excluding the performance fee on MGG is 1.35%. Thus MGG management co has around 1.2% per annum so it takes them around 4 years to get to a level where they are ahead on paying the 5% discount. Effectively they also have a performance fee as well.

The two products are hugely different in that the one is a global focus, I would suggest BKI is a local focus.

I do have a very big issue with BKI when it raises capital at a discount but I have tapped into the brokers that they have placed with and buy up a few from them so that I also get the discount. I am not sure what is best but I think we are going into an era of lower returns and growth and thus think fees are a larger issue than they have been in the past.