Email of the day (5)
Comment of the Day

May 25 2011

Commentary by Eoin Treacy

Email of the day (5)

on the recent London Chart Seminar:
"I would like to extend my appreciation to all the team behind the London Chart Seminar. From a future marketing perspective it would be beneficial for you to state who and why they attended. I was shocked at the quality of the delegates and the distances they had travelled. If there had been a tally of funds owned or under management in the room, it would have made your eyes water.

"I met David initially at a Dealers Group Seminar; I am an enlightened IFA, dis-believing much of what I have been taught over a twenty year period. This knowledge has been presented by a fund management industry hell bent on preserving the status quo.

"Could you add some funds to the library please? There is a fair buzz in the UK over Vanguards indexed offerings. They appear cheap and do what they say on the tin. I use the Vanguard FTSE UK Equity Index Fund as a good proxy for "dividend aristocrats". In a world where almost all advisers earn commission it is not hard to see why the fund has only 65m in it and we have about 7m of that. (They don't pay commission) The positive cash inflows are good for trackers currently as more advisers move from active to passive. It should help with rebalancing where not too much cost need be incurred in selling.

"Eoin, I tried not to be a performing seal waiting for a fish, but your rewarding of the crowd taught me how to present in future. No chance of people not participating when they are positively rewarded, even with a brolly! "

Eoin Treacy's view Thank you for your kind words and your valuable contribution to a number of debates at the recent London event. David introduced The Chart Seminar umbrella very early on and I am delighted to still be able to judiciously award such a long coveted item. The not so secret benefit of The Chart Seminar is the depth of experience delegates bring to bear during group discussions of markets.

Thanks also for pointing out the inherent conflict of interest in IFAs recommending funds from which they receive hefty commissions. The fee based business model you champion is a laudably ethical approach which we hope gains wider acceptance. I have added the Vanguard FTSE UK Equity Index Fund to the Chart Library.

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