The end of the free fee lunch?

We are pleased to provide an update on the performance of our Australian and global founder company strategies. Australian and global founder companies have been strong, both delivering out-performance for the three months to April of over 300 basis points. Thanks in part to our low cost structure and low portfolio turnover, the Australian and global strategies have earned tax effective returns net of fees that have been well above their benchmarks over the past twelve months and since inception. In this post, we discuss why asset management fee structures might be ripe for disruption.