Fund returned 213% return over 13 years according to KFL - so compounding return of 6% pa.
NZ50 performed 266% over the same period - so compounding return of 7.75% pa.
Difference = 1.75% pa.
You don't have to be a Warren Buffett to know that someone pocketed that 1.75% difference - without adding one iota of added value in the investing cycle!
Bookmarks