ARG 0.11% $8.80 argo investments limited

other lics, page-22

  1. 7,951 Posts.
    "I don't mind paying more for performance."


    You should, jamber.
    This LIC has $145 million in net assets, and in June 2007 they slugged a $10 million perfromance fee on top of Admin costs (in essence taking credit for the bull market). This year they made losses and only charge the 2% Amdin costs (ie taking no responsibility for the bear market).
    In the long-run this fund will take on avarage a 5% pa haircut from it's manager, and let me tell you, this will drag down performance. Nobody can generate a 5% alpha in the long-run. It just ain't there.



    "I hasten to add I hold more ARG than CTN."


    As you should.


    .
 
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