“In Spain We Have The Funds With The Worst Profitability And They Are The Most Expensive”. Antonio Banda from Feelcapital
By The Corner
Antonio Banda, CEO of Feelcapital, has already warned of the risk posed by the transposition into Spanish law of the Brussels rule that will allow the entry of pan-European funds. The rule, which comes into force next March, is “the great danger for Spanish fund managers”.
Q: Following the modification of the taxation in pension plans, you commented that the real danger for national fund managers was the arrival of pan-European funds, why?
A: The regulation on European Pension Funds comes into force on March 21 and implies an opening of borders for European Pension Managers.
Q: According to the latest reports, the average commission for funds in Spain is 1.20% Wiill the commission for pan-European funds be much lower still?
A: Spanish funds are limited to 1.5% including investments. In Europe, pension plans are below 1%, and employment plans are at 0.20%.
Q: In Morningstar’s European ranking, Spanish funds are at the bottom. How badly are we doing?
Read more @The Corner
