Daily Insider: We believe that once informed, our tribe always makes the right call

LATEST ON BIZNEWS RADIO (on iTunes): “The industry will get away with what it can…” – Revisiting SA’s ‘out of step’ performance fees with OMBA’s Mark Perchtold. (Click here for Spotify)

LATEST ON BIZNEWS.COM:  

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Sean Peche’s expose’ on performance fees was a hot topic at BNC#4 – and elsewhere. 

A very senior financial services executive I chatted to over the weekend said she was forced to slow down her workout while listening to the Ranmore Funds founder’s presentation. No complaints on the content from her side, although she was taken aback at the scale of the plunder. 

In our monthly discussion yesterday on the Corion Report, David Bacher steered the conversation towards the Peche presentation. He also opened up a new avenue of inquiry into the way SA’s big money managers potentially abuse power that comes with their ownership of the platforms through which IFAs and retail investors channel investments. Click here for that fascinating discussion.

Then OMBA’s Mark Perchtold followed up in a separate conversation on retail performance fees – a subject close to the heart of this cost-obsessed London-based asset manager. OMBA’s total management fee is 0.3% a year – around a quarter of the ‘performance fee’ alone charged by some SA funds. Click here to listen.

As I mentioned to Perchtold, at BizNews we never underestimate the intelligence of our community. But we also never over-estimate their knowledge, especially on arcane topics like this one. That drives us to keep sharing information that is relevant to their bottom line. Because we fully believe that once informed, our tribe will always make the right choice.


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