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There are management and incentive fees of 1.00%-1.75% and 20% respectively; a second-layer management fee of 1.20% (with a cap of 0.75% for the first year); operational and offering expenses of the fund of funds and the underlying funds; a sales load of up to 3.50%; and a redemption fee of 2.00% for the first year. Added up, these expenses will take a big bite out of the fund's returns.
Indeed, good to read a Morningstar article written about a fund that I own that keys on how an individual investor, with limited capital, can invest in listed private equity firms which in return themselves make the private equity placements.
I purchased LPEFX a while back in the fourth quarter of 2011 … and, my average cost in the shares that I currently own are about $4.25 with its current share price approaching about $6.00. In addition, since purchase, I have received better than fifty cents in distributions per share which makes my total return, thus far, north of fifty percent … and, combined with a year-to-date gain of better than sixteen percent … Score me, a happy camper.
The Listed Private Equity Fund (LPEFX) is a major position with a weighting of better than twenty five percent in my Specialty Sleeve Section of the Growth Area of my portfolio. The Specialty Sleeve Section contains six funds and makes up about twenty percent of the Growth Area of my portfolio.
Again thanks, Investor, for posting the article as I indeed enjoyed the read especially with the good results that I have experienced.
I have linked the Morningstar report for those that would like to look under the hood, so-to-speak.
Comments
Indeed, good to read a Morningstar article written about a fund that I own that keys on how an individual investor, with limited capital, can invest in listed private equity firms which in return themselves make the private equity placements.
I purchased LPEFX a while back in the fourth quarter of 2011 … and, my average cost in the shares that I currently own are about $4.25 with its current share price approaching about $6.00. In addition, since purchase, I have received better than fifty cents in distributions per share which makes my total return, thus far, north of fifty percent … and, combined with a year-to-date gain of better than sixteen percent … Score me, a happy camper.
The Listed Private Equity Fund (LPEFX) is a major position with a weighting of better than twenty five percent in my Specialty Sleeve Section of the Growth Area of my portfolio. The Specialty Sleeve Section contains six funds and makes up about twenty percent of the Growth Area of my portfolio.
Again thanks, Investor, for posting the article as I indeed enjoyed the read especially with the good results that I have experienced.
I have linked the Morningstar report for those that would like to look under the hood, so-to-speak.
http://quotes.morningstar.com/fund/f?t=lpefx®ion=USA
In addition, I have linked below Morningstar's Expense Analysis Report along with its Holdings Report.
http://financials.morningstar.com/fund/expense.html?t=LPEFX®ion=USA&culture=en-us
http://portfolios.morningstar.com/fund/holdings?t=LPEFX®ion=USA&culture=en-us
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