1Wk
Your largest holding is a fund with an annual expense ratio of 1.6%?
Why are you holding onto it so tenaciously?
Why are you holding onto it so tenaciously?
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@Smudeo The Fürstlich Castell'sche Bank fund 😉. I could say that I always get a bottle from the Fürstliches Weingut for Christmas—that would really stir things up here on the forum... 😅
No. Here’s the background: I follow a multi-bank strategy, and within this setup, Castell Bank is my primary bank for all eventualities. When I need financing for my real estate, I have a direct line to them, and decisions can be made very quickly and easily. Even if I need something specific—collateral swaps, raising capital through unencumbered land registry entries, etc.—I have someone there who will listen and go along with it. That’s only possible with small banks and short decision-making chains. Branch and direct banks, on the other hand, just follow templates and issue rejections very quickly as soon as things get more complicated.
The fund isn’t strictly necessary, but it “keeps the friendship alive” and fosters a positive atmosphere in the business relationship. The TER is high, but the benefits of a business relationship that has grown over 20 years are more important than these costs.
No. Here’s the background: I follow a multi-bank strategy, and within this setup, Castell Bank is my primary bank for all eventualities. When I need financing for my real estate, I have a direct line to them, and decisions can be made very quickly and easily. Even if I need something specific—collateral swaps, raising capital through unencumbered land registry entries, etc.—I have someone there who will listen and go along with it. That’s only possible with small banks and short decision-making chains. Branch and direct banks, on the other hand, just follow templates and issue rejections very quickly as soon as things get more complicated.
The fund isn’t strictly necessary, but it “keeps the friendship alive” and fosters a positive atmosphere in the business relationship. The TER is high, but the benefits of a business relationship that has grown over 20 years are more important than these costs.
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•1Wk
@NichtRelevant I agree with you
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