Fee reduction boosts fund rating
Premium China Funds Management (PCFM) has received an upgrade of ‘recommended’ to its Premium Asia fund by research and ratings house Zenith.
Zenith upgraded the fund, managed by Hong Kong-based Value Partners, noting it retained confidence in Value Partners’ experienced investment team and approach.
They had also noted recent changes to the fund’s fee structure had improved the overall attractiveness of the strategy.
The fund announced in June it would reduce the fee applied to the Premium Asia Fund by 45 basis points, as well as the removal of the performance fee.
Jonathan Wu, PCFM executive director and chief investment specialist, said the company was pleased the value of its fee structure changes had been appropriately noted by the ratings house.
“The fee reduction, which went live on 1 July with the new financial year had represented a significant step on the part of PCFM in circumstances where the Premium Asia Fund was the manager’s most mainstream offering with a strong and consistent performance track record which it believed needed be recognised,” Wu said.
Chart 1: Performance of Premium Asia fund from 1 November, 2016 to 31 October, 2019, accumulative.
AUTHOR
Chris Dastoor
Recommended for you
Selfwealth has provided an update on the status of its scheme implementation deed with Bell Financial Group as well as whether rival bidder Svava remains in the picture.
Magellan Financial Group has reported its first half FY25 results while appointing a new chief financial officer and promoting Sophia Rahmani to chief executive.
Schroders Australia has launched two active ETFs and plans to further expand its listed range over the year ahead.
Platform Netwealth has reported its financial results for the first half of FY25, reporting an 80 per cent increase in net flows, with its CEO viewing a “huge opportunity” from private assets.
