Morningstar's analysis of the costs of funds sold in Italy continues: this week it's the turn of instruments domiciled abroad. The selection was made on the most expensive classes intended for retail investors in terms of current expenses (expressed in the Kiids, the Key Investor Information Documents) in order to have as a reference, for each product, the maximum spending limit (for Italian law, already analysed, click , here).
The same management company can have different retail classes with different costs for the same fund. This depends on a number of factors. “Typically the retail classes with pricing those with or without entry fees are different”, explains Francesco Paganelli, fund analyst at Morningstar. “Some tools also create different retail classes, with different costs, to meet the particular needs of certain distributors”.
According to the data reported in the Kiid and processed by Morningstar through the Direct platform, the most expensive funds domiciled abroad are those in the Allocation universe which, on average, have current expenses of 2,10% (Maximum: 10,65%. Minimum : 0,19%). At the opposite end are the monetary funds which, again on average, have current expenses of 0,39% (Maximum: 0,39%. Minimum: 0,04%).
The table below shows the macro categories of funds ordered from the most expensive to the least expensive.
The tables below show the most expensive funds in three stock categories: Africa, Asia and Latin America. In the coming weeks we will continue with the other segments.
