The FSA Spy market buzz – 26 April 2024
Golden mystery, Next big Healthtech thing, Plastic everywhere, The Magnificent Seven wane, Dreary fund presentation hell, Putting The Economist in its place, A touch of Shakespeare and much more.
The ongoing charges (OCF) of the two funds, Threadneedle’s 1.65% and Fidelity’s 1.69%, are below the median for the funds in the international mixed-asset category authorised by the SFC for sale in Hong Kong, according to FE data. The median for the category is 1.75%. The category is, on average, more expensive compared to others, with as many as six funds charging annual fees above 3%.
The structure of the Fidelity fund, which invests in other funds, raises concerns about fee layering. (The fund does not disclose fee details.)
Fidelity uses “pools” of assets, which are vehicles to co-manage assets from different funds, according to Ng. By using these pools, fund-of-fund strategies have the ability to effectively by-pass investing in the firm’s other funds, thereby potentially avoiding layering of fees, Ng noted.
Golden mystery, Next big Healthtech thing, Plastic everywhere, The Magnificent Seven wane, Dreary fund presentation hell, Putting The Economist in its place, A touch of Shakespeare and much more.
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