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Bullboard - Stock Discussion Forum Citadel Income Fund T.CTF.UN

Alternate Symbol(s):  CTFUF

Citadel Income Fund (the Trust) is a Canada-based closed-end investment trust. The Trust’s investment objectives are to provide its Unitholders with a stable stream of monthly distributions and to preserve and potentially enhance the Net Asset Value (NAV) of the Fund. The Trust invests in a diversified portfolio of securities with the focus on income generation consisting of equity securities... see more

TSX:CTF.UN - Post Discussion

Citadel Income Fund > management expense ratio of 9.27%
View:
Post by riskymoney on May 06, 2014 3:54pm

management expense ratio of 9.27%

MER for 2013 was 9.27% Portfolio turnover ratio of 32.45% Are you kidding me???
Comment by BuenaSuertaAtod on May 07, 2014 3:00pm
Risky, That MER was a 1-time event having to do with the change of fund managers. The MER is normally a fraction of that. Of course, the right time for a 9.27% MER is NEVER - and it no doubt has something to do with the extreme discount to NAV. IMO the turnover ratio is the least of their sins - 32.45% is not that high. The annual voluntary redemption should provide a descent gain with this high ...more  
Comment by mcdok0 on May 29, 2014 8:17am
Dont dwell on one time extreme high MER expenses...they had to get rid of old management at Citadel, that messed up this investment with a high income.
Comment by mcdok0 on May 29, 2014 8:19am
32% turnover was due to the new management not having the same investment philosophy as the old managers....relax..  I am impressed that the nav is going up steadily now. 
Citadel Income Fund