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.
