Very worrying to see, the asset manager takes over and then goes broke? I don't even know what the repercussions of this would be.
How you can charge 1.25% FUM and return such a poultry amount is really quite outrageous, not even bad brokers charge this much.
I agree need to trust the old management that managed returns of 20+% and the new OC that returned 15%+ rather than GB who seems to be on TV too much and not running CAM returning .6% - you must be joking!
I really do hope the regulators are watching.
Michael Pascoe SMH article- brokers + Chairman look bad, page-2
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