Q: You have mentioned a few times that you are not a fan of PFIA’s higher fees. Is there an alternative Fund you would prefer?
5i Research Answer:
ALTY is a bit too small at the moment for a strong endorsement, but fees are nearly half and performance has been much better than PFIA. ZMI also compares very well on yield, fees and performance. JEPI compares very well with fees at 0.35%, assets at $29B and massively better 3 year performance (11% vs 2%). Note it is not so much PFIA is a bad fund, but at net 2% three year returns we just consider fees of 0.95% too high.