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Fox Invest Limited

Discussion in 'Listed Investment Companies (LIC) and Trusts (LIT)' started by Mr Bullbear, 21st Feb, 2009.

  1. Mr Bullbear

    Mr Bullbear Member

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    Can anyone tell me why the share price of Fox Invest keeps falling and what exactly it is invested in?
     
  2. Tropo

    Tropo Well-Known Member

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    Because ... bull run end up approx. 14 months ago.
    Amazing is it ? :rolleyes::confused::eek:
     
  3. Mr Bullbear

    Mr Bullbear Member

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    I have read the annual report of Fox Invest

    It seems to be investing in other Freeman Fox Funds

    I have checked these funds on the Freeman Fox website and it appears that the funds that Fox Invest invests into are investing into other managed funds.

    Bit like a Russian doll open one and find another.

    I can understand why Fox Invest would not be investing directly in these other funds

    It must be paying at least 3 layers of management fees, perhaps this is why the share price is falling so much

    it would be good if some one could tell me exactly how much in total management fees were being paid
     
  4. Rick

    Rick Well-Known Member

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    Good on you Tropo, great response! :rolleyes:

    I don't know much about Fox but it appears that the bear market may only be part of the problem as Mr Bullbear alludes to.
     
  5. AsxBroker

    AsxBroker Well-Known Member

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    Hi BullBear,

    You'll probably find the costs in the Fees section in the Product Disclosure Statement...

    Cheers,

    Dan

    PS This is general information, speak to your FPA registered Financial Planner before making an investment decision.
     
  6. Mr Bullbear

    Mr Bullbear Member

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    thanks Dan

    but it doesnt have a pds

    the annual report only appears to disclose the fees paid by fox invest, but not the fees in the underlying funds
     
  7. AsxBroker

    AsxBroker Well-Known Member

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    tSorry BullBear,

    I meant the Prospectus...
    The fees probably wouldn't be disclosed as they are fees from the underlying funds, eg, AMP doesn't disclose what the management fees to hold BHP as it is a separate entity. Hence why FXI wouldn't be disclosing the costs of the underlying funds it invests in, those individual funds would be taking the fees off the gross return and then distributing the net income (after fees) to FXI.

    You should probably look at investing in open-ended funds which are unlisted, there is a wider number and variety to choose from.

    Cheers,

    Dan

    PS This is general information. Before making an investment decision speak to your FPA registered financial planner.