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.
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."
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 ..
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.