I’m looking at the Pengana Private Equity Trust (PE1). Do you think the fees are too high vs. the potential reward? Or are they reasonable given the exposure / diversification gained to private equity?
A: It is a unique offer (for Australian retail investors), so in that respect, it is hard to say that the fees are too high.
Pengana is also meeting all the costs of the offer.
If you can commit to a 10 year plus time-frame, the potential reward is there.