sharetrader
Page 19 of 35 FirstFirst ... 915161718192021222329 ... LastLast
Results 181 to 190 of 344

Thread: Pie funds

  1. #181
    Guru
    Join Date
    Jul 2004
    Location
    Bolivia.
    Posts
    4,854

    Default

    Quote Originally Posted by bull.... View Post
    Global where the action has been for sure, I see the head guy of pie gave up as portfolio manager of nz and aus portfolios ( another baling at the top?) to go to the portfolio where the action is. wonder why?
    unfortuntely need the money elsewhere. Our builder needs a new ute

  2. #182
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    3,227

    Default

    Quote Originally Posted by bull.... View Post
    Global where the action has been for sure, I see the head guy of pie gave up as portfolio manager of nz and aus portfolios ( another baling at the top?) to go to the portfolio where the action is. wonder why?
    You can only spread yourself so far.

  3. #183
    ShareTrader Legend bull....'s Avatar
    Join Date
    Jan 2002
    Location
    auckland, , New Zealand.
    Posts
    10,993

    Default

    pie has been doing alot of selling in some core holdings recently if the less than flattering comments about them on hotcopper are to be believed.
    one step ahead of the herd

  4. #184
    IMO
    Join Date
    Aug 2010
    Location
    Floating Anchor Shoals
    Posts
    9,696

    Default

    What thread/stocks so i can have a look; thanks.

  5. #185
    ShareTrader Legend Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    21,362

    Default

    Does anyone else think a 1.5% base management fee and 15% performance fee is a little over the top ?
    Last edited by Beagle; 18-03-2017 at 04:34 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  6. #186
    IMO
    Join Date
    Aug 2010
    Location
    Floating Anchor Shoals
    Posts
    9,696

    Default

    Last i looked i had a 75% return in 3 years up to may 2016 in the growth fund so fees certainly wern't over the top for that fund. I keep thinking the performance will revert to the norm at some stage and better update myself .If it does yes those fees will then look exorbitant but then they are in a higher risk small/micro cap zone with its own inherent risks. It has been a successful part of my diversified portfolio (PIE)but yes i do need to update where its at. I understand some of the other funds have had more "normal" returns.

  7. #187
    Advanced Member
    Join Date
    Feb 2011
    Location
    Wellington
    Posts
    2,451

    Default

    My "Emerging Fund" investment is more normal 30.6 % Pa since inception Apr 2013 ......

  8. #188
    ShareTrader Legend bull....'s Avatar
    Join Date
    Jan 2002
    Location
    auckland, , New Zealand.
    Posts
    10,993

    Default

    Quote Originally Posted by Joshuatree View Post
    What thread/stocks so i can have a look; thanks.
    i was checking the mny,eml thread and saw the comments

    example peterdoobes says
    I know everyone likes to talk up their book but this is pretty blatant. Extract from newsletter emailed on 7 Feb:

    "EML is our largest position at Pie because we believe the
    market will eventually ignore the distractions and resume
    its focus on the rapid earnings growth."

    From 8 Feb to 23 Feb - holding reduced by 3.83m shares...

    I myself was eluding to the possibility on this thread back in 2014 they maybe possibly doing pump and dumps? thru newsletters
    Last edited by bull....; 18-03-2017 at 07:16 PM.
    one step ahead of the herd

  9. #189
    ShareTrader Legend Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    21,362

    Default

    Quote Originally Posted by Joshuatree View Post
    Last i looked i had a 75% return in 3 years up to may 2016 in the growth fund so fees certainly wern't over the top for that fund. I keep thinking the performance will revert to the norm at some stage and better update myself .If it does yes those fees will then look exorbitant but then they are in a higher risk small/micro cap zone with its own inherent risks. It has been a successful part of my diversified portfolio (PIE)but yes i do need to update where its at. I understand some of the other funds have had more "normal" returns.
    Not trying to antagonize you Joshuatree but a genuine question, is this the fund you're invested in ? The one that's had a net return before tax of only 1.4% over the last year vs a market index return of 13% ?
    https://www.piefunds.co.nz/assets/Fa...ets/Growth.pdf

    One of the main advantages / disadvantages managed funds that chase large shareholdings in illiquid stocks like TIL have is that while they're building a large stake they can enjoy significant market outperformance (earning very substantial performance fees) simply through the weight of their money driving up the share prices of the companies they invest in.
    However the opposite is equally true, once they have a large position they can easily find they've dug themselves into an intransigent position that's extremely difficult to extricate themselves from without inflicting a lot of pain on their investors. "Strange" that they never refund those performance fees when the very shares that created those performance fees go into meltdown isn't it.
    Just thinking out loud here does that explain why they've closed this fund and opened a growth fund MK2 ?
    Perhaps you would be so kind as to update us on your 3 years 10 months performance and share your thoughts on how well you feel they handled the TIL share price meltdown ?
    Do you remain confident going forward in their ability to outperform the market after their management fee and performance fees and tax especially taking into account the sort of fiasco TIL turned out to be ?

    Emerging Market fund has also dramatically underperformed the relevant index in the last year...more examples of TIL out there ?

    While it is fair to say their new growth fund Mk2 has slightly outperformed, (before tax) the relevant index in the last year, after tax investors still would have been better off with the index return with no tax.

    I am not convinced and the old investor adage of "past performance is no guarantee of future performance" springs readily to mind.
    Disc No advice here, just plenty of food for thought and good banter.
    Last edited by Beagle; 18-03-2017 at 05:43 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  10. #190
    IMO
    Join Date
    Aug 2010
    Location
    Floating Anchor Shoals
    Posts
    9,696

    Default

    Quote Originally Posted by bull.... View Post
    i was checking the mny,eml thread and saw the comments

    example peterdoobes says
    I know everyone likes to talk up their book but this is pretty blatant. Extract from newsletter emailed on 7 Feb:

    "EML is our largest position at Pie because we believe the
    market will eventually ignore the distractions and resume
    its focus on the rapid earnings growth."

    From 8 Feb to 23 Feb - holding reduced by 3.83m shares...

    I myself was eluding to the possibility on this thread back in 2014 they maybe possibly doing pump and dumps? thru newsletters
    Thanks ,yes i remember KW suggesting the same when she was around.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •