Agree with all of that. Those points are all great. No issue whatsoever. But why should we pay away an outsized performance fee in those circumstances (it's not an insignificant amount)? The equitable thing to do is for the manager to be benchmarked against a relevant index, and the Aust index is not relevant where investments are in the US. Really simple.
Agree with all of that. Those points are all great. No issue...
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