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http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=51518&cat=146&IdSection=146&PageMem=&nbNews=&IdPub=

In case anyone is interested in playing these conversions (they have other funds that work the same way) ... you may have noticed that the wording in the news release (same as Prospectus and same as website) all claim the exact opposite of what they want you to think.

They say the fund will convert "if the trading price is greater than a discount of 2% of NAV". What they want you to think is "if the discount is greater than a discount of 2% of NAV".

I have documented responses from the company and their legal advisors that they MEAN what they want you to think, not what they say. I can send you those assurances if you want.
 
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