Agreed - for a fund of funds, they're really doing very well. I assume it would turn to underperformance if all the underlying funds were charging their normal fees. It shows what a great deal this model is. After participating in the VG1 IPO I sold at a profit and put the money into this - why hold that when you can have it without the fees? Makes you wonder.
Ann: Investment Update & NTA January 2018, page-3
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