OBSR's Romer-Lee on low-cost active funds

In fact, until its announcement last week, Primark was doing rather well because of it. I am of course referring to the start of a pricing let’s call it war in anticipation of things to come. For as long as I can remember retail investors have paid an annual management charge in the region of 1.5% per annum for their active funds. In fact, with other charges, it costs them more but let’s keep it simple for the purpose of this discussion. They also paid anywhere between 0.65% and 1.2% per annum for tracker funds, or passive investments, which as an aside were pretty much destined to deliv...