BHD, page-2

yeah, looks like HML priority applications were scaled back by about 50% about $5k and everyone else scaled back 75%. (there's a BHD forum now and a thread in there about it).

these guys seem unique alright. when they waved a performance fee earlier this year I thought that was nice but a little cynical part of me wondered if it was partially a marketing exercise. making the outright performance as high as possible could help them raise more capital with their new funds later on. if that had been the case then they wouldn't be sending us half our $ back now.

I spoke to someone there about an administrative issue during the BHD raising and asked how it was going. they told me that there was a lot of interest and they'd go over the limit but Stuart was insisting on capping it at $20M. the other LICs coming out seem to be happy to take as much funding as they can get. i can understand that a small or micro cap fund can't effectively move large amounts of capital around (even then, $20M is tiny) but i wouldn't think there's an issue with the currencies etc that HML/BHD trade in. i'd be interested in people's thoughts about why they kept BHD far smaller than they could have.