LETTER: Allan Gray fund joins ranks of those asking more for less
Feigned repentance involves shamelessly introducing obscure new performance structures to make fees appear fairer to investors
25 June 2019 - 05:00
Allan Gray’s Orbis Fund is the latest in a long line of investment institutions that have been charging hefty fees for very poor performance.
They have had the astounding audacity to feign repentance by making a small downward adjustment to one leg of their fee structure while doubling the other leg, at a time when this strategy is likely to score them enormous fees on any market uptick...
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