I have only had Managed Funds for one month - early days. But I didn't expect to drop 7.5% on my investment in that short time. My 'confidence' has been shaken! What is happening out there?
Michael Corteney, Managed Funds Executive: Thanks for your comment Garth. Given the aggressive nature of some of the Funds available via RaboDirect, these can be subject to a certain degree of volatility. These are the type of funds that while they can deliver very good returns in some instances, it also pays to be mindful of the potential downside risks associated with them. You mention that it is ‘early days’, and I think this is an important comment, particularly with regard to the more aggressive Funds offered, because as they can tend to fluctuate in value in the short-term, they are generally designed for longer-term investment timeframes. With a seemingly uncertain economic environment at present, including Greece’s debt concerns and indications of a potential slowdown in China’s growth, it is difficult to comment on when some stability may return.
Hi Mike, just want to find out why the Brooke Alpha Fund has been put on hold?? It's been on hold for quite a while now.
Mike Heath: The RaboDirect Investment committee has placed this fund on hold pending further analysis by Morningstar. There have been significant personnel changes at Brook and we are awaiting the output of Morningstar’s full review due March 2011.
interested to know whether the entry fees charged on managed funds are tax deductable?
Mike Heath:Thank you for your inquiry. Tax is a specialist area and RaboPlus does not provide tax advice. RaboPlus is aware some advisers consider that entry fees may be deductible, depending on the particular investor’s personal circumstances. For a definitive answer to your question you would need to obtain specialist tax advice.
Hi Mike,have you managed to explain the intricacies of exit prices for the the cash fund?
Mike Heath: Hi Vicki, I can’t recall you having asked this question before, but if you did my apologies for having missed it. There are no exit prices for the Cash Advantage Fund i.e. the buy price and sell price are the same and reflect the same unit price. Does that answer your question?
I see Rabo has no entry/exit fees for Managed Funds for 2009. Can you give me an indication what these would be when this promotion ends
Owen Hallmark, Marketing Manager: Hi Paddy, Our normal entry fee is 0.75%. Our RaboPlus exit fee has always been 0%. It is likely to stay that way during 2010.
Mike Heath: Gavin thanks for the question. We have yet to decide if we are going to run with this, or a similar campaign in 2009. If we do decide to run with one we’ll let people know in ActiveMoney.
Mike Heath: Michael, without wanting to sound like I’m brushing you off could I ask that you have a chat with your broker about the Rabobank Perpetual Bonds. As we do not offer these bonds on our platform we are not in a position to comment. Regards Mike
Mike Heath: Louisa, thanks for the suggestion. We are soon to commission a gap analysis of our funds offering which may also capture the point you make. We’ll keep you posted in ActiveMoney. Regards Mike
When are you giving us a term deposit pie??? You were first with the cash advantage fund but trailing badly behind marac and udc with a fixed term pie product.
Miek Heath: Robert, we are looking at a PIE TD but can not give a firm date for it yet.
Is Raboplus planning on making more wholesale Australain based funds available in the future? Especially emerging markets or resource focused funds.
Mike Heath: Rose, thanks for the feedback and suggestion. I recently read a paper on the mutual recognition opportunity, and plan to discuss it our next investment committee meeting. It is at this committee where we review current funds/fund managers and assess new funds/fund managers.
Only last week we conducted a series of meetings with current/prospective fund managers with the output of these meetings feeding into our investment committee decisions. Whilst I can not be more specific at this point in time, we do plan to add new funds/fund managers over the coming months and will take your suggestion on board.
Any chance of putting up benchmark index returns for each fund for comparison?
Mike Heath: James, thanks for the feedback, we'll definitely take a look at this as part of our planned enhancements for Managed Funds
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