Citadel Income Fund T.CTF.UN

RE:RE:Collapse fund

[Intellectual]

I have invested in this fund for years, even before the clowns at Crown Hill merged the other Citadel funds to form this larger fund. The discount to NAV has now reached unprecedented levels. The apathy and despondence is not very surprising given that Artemis has arguably proven itself to be even more inept than Crown Hill.

The warrant offering was a massive blow to investors' confidence and simply reinforced the perception that Artemis is either clueless as to how to manage this fund or is simply looking at its own best interests. Be thankful the offering was such a colossal failure! I only hope they learned from the experience and won't attempt the disasterous maneuvre once again.

Most perplexing is management's unwillingness to repurchase shares on the open market through their existing NCIB. Are they intellectually and intuitively bereft? Any manager should realize that repurchasing shares would be accretive to NAV, thereby not only increasing liquidity and supporting the price of the fund, but more importantly, increasing its NAV and consequently management's earnings as well! Everybody wins!

In my opinion, these clowns are even worse than Crown Hill as they are neither working in our best interests nor theirs! Someone seriously needs to educate them.

ChupacabraBueno, when you spoke to them, were they at all responsive to any ideas or were they largely dismissive?