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What is going on?

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Lindsay_1
Contributor
Anybody got any ideas as to why Astoria is performing so badly?
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14 REPLIES 14
Siener
Contributor
Astoria fund managers have no exceptional international experience (the competition is tough out there!), yet they want to charge fat management fees. Share price is doing worse than underlying investments in ZAR, so it looks like market is losing confidence. Compare its performance against ETFs like DBXUS and DBXWorld and you'll see it has lagged significantly, with added insult of expensive fees. Strictly for uninformed retail investors.
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Super Contributor
rate increase comming!
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Super Contributor
It peaked on 11 Jan when the rand was at its weakest. Since then it seems to have dropped as the rand has strengthened. So maybe it will get going again when the rand weakens.
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Super Contributor
ah dunt think the rand-hourly is why you go there, ah think you go there to get some eggs out of this basket case.. But you might have a point.
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Super Contributor
I think it's because they ventured off their initial mandate and started investing in non listed entities. Vitally impossible to value those.
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pwf
New Contributor
Not sure. Trading well below net asset value
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Super Contributor
picking at the 16% block thathave under 10k shares. They skrik easy.
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Siener
Contributor
Go on Twitter and see what well-known commentator Karen Richards (@Richards_Karin) thinks of Astoria. "And at R11.73 the absolute must-have darling, fee-infested Astoria, is down 36.6% from its post listing high of R18.50. And no, it is not the Rand. Impact of fees is magnified when things go wrong." "It was always just a giant fleecing exercise, preying on new and vulnerable investors. I wish I could find the time to look up the people who recommended so highly."
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Super Contributor
[email protected] also recommended africant bank @ 34odd rand. Daft Punk - 1 more time
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Super Contributor
you gonna gimme a rugby/criket score now?
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Siener
Contributor
LOL. Astoria now at R11.21. All the muppets being taken to the cleaners...
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Super Contributor
Yes, everyone's fleeing the fleecing fees. Me, I think it's the exchange rate.
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Valued Contributor
I was one of those recommending ARA, still holding and perfectly happy .. everybody fleeing coz partly they all thougth zar was a one way bet, seen this game play out many times before and will many times again ..
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Super Contributor
It's the $. If the ZAR tanks - this thing will be off to the races again - and all of those fees will seem scant cost for the perceived security. I don't own - won't own and don't like it. Just not my cup of tea. A vehicle designed to appeal to a specific market, sure. But then again - there was a need to be filled.
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