Thanks - likewise, I suppose. Why cannot we discuss this without getting personal?
You suggested "argue the fee should be increased"; so technically we're in already agreement that the fundamentals on which the proposal & expert opinion are based have changed. However, for a unit holder there's no possibility to vote for adjusting the terms, the only options for voting are yes/no/abstain. Therefore, the rational view is to question whether the proposal should proceed to vote at all, given the rapidly changing situation. [edit: for disclosure, I voted 'no']
See for example: https://edition.cnn.com/2020/03/14/investing/corporate-debt-coronavirus/index.html
"The credit market is moving quickly towards the point of no return, where the turn in the credit cycle becomes inevitable and irreversible, as funding sources dry up, issuers face liquidity crunch, credit losses rise, investors rush for the exit, and face extremely thin liquidity on the way out," Oleg Melentyev, head of high-yield credit strategy at Bank of America, told clients Friday. And while this is a standard end to a credit cycle, Melentyev said, it appears to be playing out at three to four times normal speed.
Should the situation deteriorate further, it will also have economic consequences as companies hurry to reduce their debt burdens, the IMF noted. There could be waves of layoffs, and business investment could fall off. Defaults would also hit banks and could lead to less lending. Companies could find it more difficult to borrow during the period when they need it the most.This would exacerbate a global recession caused by the coronavirus, which a growing number of economists now warn is a real possibility. The expectation is that if the world does tip into recession, it would be sharp but short, with the global economy bouncing back as soon as the threat of the virus recedes. But credit risk in the system incorporates a big question mark."Debt is an automatic destabilizer," MacAdam said.
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