why didn't the RE allow a vote on a third option? ... viz. cash out those who want to leave at nav minus costs ... and keep the company going for those who want to stay.
that's what i wanted to vote for.
because this option wasn't available, the choice ended up being between, getting out at about $1.00 at some time in the near future, or in the case of the RE winning, this fund staying and trading in the low 80s. i'm not surprised people voted for the fund to close.
i am grateful to Lim Advisory for trying to get a better deal for shareholders over the last few years. without them i think no change would have happened.
the problem has not been with Lim, but rather with the RE which was never able to adapt adequately.
i've made a lot of money from AGF over the years and i would have preferred the fund to stay open. and i think if we could have voted for option three, the fund would have remained listed. again the problem is with the RE for not allowing us to vote on three options rather than two.
AGF Price at posting:
90.5¢ Sentiment: Buy Disclosure: Held
