Disclosure – Non-substantive Research
This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. With this commentary, Kepler Partners LLP does not intend to influence your investment firm's behaviour.
The fees that investors pay for funds have long been a sticking point. There continues to be pressure on managers to keep costs low, thanks to the advent of low-cost tracker strategies and the clear economies of scale to active managers from huge growth in valuations and assets under management. Yet is this spotlight on fees being shone correctly? Do lower fees equate to better performance? Or is it in fact better to pay up for active management, and thus achieve better returns?
Our analysts argue whether investors should select investments based on lower fees or focus on other factors when selecting a trust.
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