Why CD Fund investors should vote against KAM taking over as responsible entity, page-4

Thanks for your generous work on this hobbes.

In your blog you say the following about realising maximum cash as quickly as possible:

- Actively seeking a merger of the CD Funds with another listed or unlisted fund (e.g. Pengana's PE1).

- To the extent possible, seeking the CD Fund General Partners to more actively pursue secondary transactions at reasonable values to quicken portfolio realisation.

- Pursuing more efficient distribution of available cash and making overall cash positions more transparent at least each quarter. For example, based on the 31 Mar 2023 annual report, CD2 has over 50 cents in cash but no distributions have been announced or foreshadowed.

Is the aim of the first point to close the NAV discount?

And can you say a little more about the second point? Presumably, CD Fund investments are closed / realised at a time that represents best value to shareholders. Are you suggesting this may not be the case (apologies if I am misunderstanding)?

Is the general proposition that while there is nothing to suggest K2 would not do a reasonable job for shareholders, the vote should be used as an opportunity to extract undertakings that assist the shareholders?