Absolutely fabulous fees
ANALYSIS: Milford Funds says its ‘absolute return’ investment style justified performance fees of $40.2m, but the claim doesn’t stand up to scrutiny.
Absolute return: easy to say, hard to define.
What’s in a name? In the sweet smell of a rose, nothing. In a managed fund, many millions of dollars.
With so much money at stake, the temptation to bullshit is high.
Regrettably, one fund manager has a particular weakness here, despite a track record that should need no financial
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