H Vermilion. Further to your post. I received a quick reply from Investor Relations HDF regarding what I consider a rort called "Performance fees" . HDF claim the fees are less than industry peer group average. Also HDF generated less than $300,000 in 2009 and more examples blah, blah blah. (Called spin in my view) They claim the performance fee structure was industry standard until 2009 and that the fee structure is vastly different to the Macquarie Bank fees in that HDF never paid itself fees from transactions and didn't artificially inflate distributions by borrowing etc. Having said all that HASTINGS IS CONDUCTING A BROAD REVIEW of future strategy including fee structure in a rigorous analysis. Share holders need to keep pressure on HDF otherwise we could become an appendage of APA with diminished dividends.
HDF Price at posting:
$1.98 Sentiment: Hold Disclosure: Held
