Pie funds

[Fred114]

Quarterly update from Mike and others states they hold a great deal of cash to deal with market volatility, and have learnt since the GFC when they began these funds to act cautiously. I would like them to explain investing in ASX: NTD, whose shareprice suffered a 40% drop on annual results announcement. They are supposed to be picking winners, not loosers.......what do we pay these traders for?

[percy]

It is said Warren Buffett gets 6 out 10 positions right,therefore you should expect Pie to get the odd one wrong.

[Grimy]

https://www.goodreturns.co.nz/articl...ay+10+May+2019

Looking to expand.

[Beagle]

I don't know about others but I'd be terrified to be on the other side of a deal with those guys.

[peat]

I don't know about others but I'd be terrified to be on the other side of a deal with those guys.

can you expand on that or clarify
I would take it to mean you see them as very astute and likely to win at your expense.

I never bought any of the power companies because I didnt want to be on the other side of a deal with John Key. Is that how you mean it?

[winner69]

https://www.goodreturns.co.nz/articl...ay+10+May+2019

Looking to expand.

Good effort from an ex Sharetrader ...he’s done well

[Beagle]

can you expand on that or clarify
I would take it to mean you see them as very astute and likely to win at your expense.

Yes exactly that. I would rate that as analogous to buying a commercial building off Bob Jones...someone is going to get the upper hand and its very unlikely to be me lol

[Joshuatree]

New website tells me ive averaged 15.55% return annually on my 3 funds since 2013 , after tax and fees. Been so easy and worry free, and time efficient.

[bull....]

New website tells me ive averaged 15.55% return annually on my 3 funds since 2013 , after tax and fees. Been so easy and worry free, and time efficient.

i just had a look at there quarterly updates , i do not see any funds that have returned what you say after tax and fees. the highest i see is emerging 14.49% over the last 5 yrs after all fees , div 12.31% and growth 9.91%.

Also they use average return

Average returns, also known as the mean return or simple average return, is simply adding up all of the annual returns and dividing by the number of years. Because of the smoothing inherent in annualized return, average returns will always be greater, except when the standard deviation is zero. The greater the standard deviation, the larger the divergence will be between average returns and annualized returns.

I accept they have done not to bad over the last 5 yrs but question weather they can continue to.
the active vrs passive debate comes to mind.

As an example an investment in a smartshare nz50 index has returned 13.57% after fees annualised return last 5 yrs but with considerably lower management fees. not to dissimilar to there best returning fund.

So the question is can pie with high fees beat a passive fund with low fees over the long run? warren buffet says no but maybe they think they can

or for that matter any active fund manager in NZ might argue they can to justify high fees.

[Joshuatree]

Yep the aus emerging has pulled the others up with a 22% plus return . Pie has and is a great additional component of my portfolio.And i cant fiddle with it easily or quickly a bonus for me, time in the market etc.