exactly what I alluded to in my previous post, the SAFM...

exactly what I alluded to in my previous post, the SAFM holdings/brazil owners got a sweet deal at the expense of the SFZ prospectus buyers. A 1% increase in the NAV of the fund being contributed by a shareholding that makes up 5% of the total NAV, implies that during the month the Baker Steel fund made a paper gain of 20% on their SAFM paper. Nice bonus if you're in the loop.