The liquidity option here is fake. Every man and their dog will be flooding for the exit each 6 month period, and as Friendly dwarf showed above, the system is flawed because even after 10 years, you'll only be able to have withdrawn 35% of your investment as a worst case. This is a fee grab plain and simple. CD1 had just gone ex fees a couple months ago, so they were no longer paying the GP 2% p.a to do nothing.
CD2 wasn't far off going ex fees either.
Liquidity will undoubtedly come back quicker in the current form rather than letting E&P reinvest and collect more fees.
Secondly distributions were starting to include returns of capital, so the capital gains tax issue you raise is not valid. The tax outcome is not entirely clear for me at the moment.
CD3 Price at posting:
$1.42 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)