Fees on the firm's open-end and exchange-traded funds are a weakness, contributing negatively to the rating and creating a larger performance hurdle on funds. On average, Centre Funds charges fees on its funds that are in the second most-expensive quintile of similarly distributed funds. With the current market environment of fee compression, this is cause for concern, as investors may flock over time to alternate asset managers to get a better deal. A detractor from the firm's rating is its lower-than-average portfolio management retention over the past five years, as elevated turnover bears watching. On average, Centre Funds's longest-tenured portfolio managers have accrued 12 years of tenure. This level of manager experience should give investors confidence in the group's ability to handle differing market conditions.
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