Fund managers are supposed to be a professional having expertise in managing the investment profolio reasonably well and capability in handing downturning market. But, many of them seem underperforming even compared to a layman like me.
My family bought two funds in Standard Chartered in year 2007/2008. Up to now, these two funds still record 20% lost. But, within the same period, my own investment in HK stock market has about +9% growth. So, you can imagine how well these fund managers have done their job!?
The two funds my family bought in Standard Chartered Bank:-
1. Barclays Investment Legends Fund
2. Lyxor Agriculture Fund
The fund managers still charge 1.5% from clients (including me) for his bad management fee - very funny /ridiculous! In business world, we talk about cost-effective, level of performance, flexibility and employee's ability. But, these fund managers with that ability can receive our money (management fee) for his underperformance. Using Donald Trump's scale, they should have been fired!
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