RE:RE:Total rate of return is management effective
Yes I also don't like the new direction. On the extension idea, the fund manager can do what ever they like. By design all voting rights are assigned to a seperate class of shares in this case I think they are called J or K class. These shares are issued at a par value of $1, 100 shares issued and they control 100% of voting rights. What this means that if you own the capital or pref shares and you receive a corporate notice of material change what ever you select will have no effect on the outcome. Case in point, S Split Corp back on September the company anounced the idea of extension, than I was asked to vote on the Idea and of course said NO. Than in October it was released that the extension was granted but my right to terminate would remain. Just last week the fund manager announced that they were pulling for retraction over 50% of the outstanding pref shares. That tells me that more than 50% of holders rejected the extension but it did not matter as unit holders have no voting rights. BTW No unit holders of any Quadravest of Strathbridge Funds have any voting rights. The funds only ask your imput to keep up the appearance that they are working in your interest.