forgot about the accumulated realized losses. But does that mean that when the fund liquidates so will the tax loss? Could one buy this thing, make a profit, pay no taxes on that profit and... login to read the rest
I've never owned a liquidating closed end mutual fund before so I just wanted to go through the tax liability that will result from the liquidation. It says on the last financial's I saw about... login to read the rest
I got through on the first try, spoke with a gentleman who called me back after he looked up the data. He did say however that that was "the way he understood it" so take... login to read the rest
the gentleman I spoke with basically described the situation the way you did. That if the value of the put + the equity value is > $10 the investors get to keep the difference as
in how I have thought about it from an investment perspective is separating the fund and its agreements with counterparties, etc. and the fund and its relationship with its shareholders.
Thus I have viewed... login to read the rest
I believe the uses of the word "intend" describe the motivation of the fund to purchase the put contract, not a specific aspect of the contracts themselves.
I believe the current NAV of $10.32 demonstrates that... login to read the rest
Here's the language from the 1999 filing:
"In the event that the S&P 500 on the Maturity Date is less than this specified level, the Put Contracts will obligate the counterparties to make a payment to... login to read the rest
1.) The fund was originally much larger - what happened to reduce the shares outstanding to $75M cap down from around $300M?
2.) I noticed in one of the filings that the put on the S&P500... login to read the rest
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