bluedonkey wrote:This thread caught my interest so I looked on the AIC website for more info. Under charges, it has:
"Fee structures within the long-only equity funds, whether structured as segregated accounts or otherwise typically involve a 1% p.a. management fee with a relative performance fee. The hedged equity funds are slightly higher .- typically a 1% to 2% management fee and a 20% performance fee. Private equity fees are structured differently and will usually have a 1% to 2% annual charge as well as a 20% carried interest above an 8% hurdle."
82% of the portfolio is under the "Other" category, 13% Cash.
Showing 0% premium/discount currently. Was generally at a premium pre-Covid, then at a discount after March 2020 until recently.
To me, it doesn't seem like a core holding.
I look upon it as a wealth preserver with modest but steady growth. You quote charges which are of course high, but typical of the classes of investment. In one sense it is a global generalist and as such it would be a core holding to me, but I see it as a global specialist in that as I said earlier, it holds a lot of stuff that I could not access myself or at least not easily anyway. I therefore am very happy to hold it. Since this thread is on Company Analysis, I also hold for instance GSK and I would not regard that as a core holding and would rather hold RIT than GSK if it came to a choice.
Dod