breThanks - saw that. I am a little confused (read: skeptical)...

bre

Thanks - saw that.

I am a little confused (read: skeptical) why it takes 5 years to redeem investments. Makes a bit of a mockery of active management if the funds are locked in for so long (in the past EBB have pointed out they can switch from the duds to the guns .. well can they?).

HAP (another hedge fund of funds) are plannig to redeem quite quickly.

So, in a nutshell, I think EBB's biases to retain FUM (delist and gorge rather than liquidate and have their snouts forced out of the trough) are coming out. Laxey are not idiots. Encourage you to Laxey's statement on p14 of the EM dated 13 Oct.