A vote FOR is electing to wind up the current structure, reduce the fees by around $850,000 pa , and fees will be based on NAV not original value (if the value goes down we will get paid less), allow cash redemptions from 4th January 2016 as well as its conversion to an open ended fund (open ended means you can go in and out at any time –usually monthly)
A vote AGAINST is to continue the structure as is whilst we sell assets. The official date of closure under the CURRENT LPA you signed is 2017 (see section 11.1) Unfortunately the fee structure (now we have overcome most of the legal hurdles) is stripping the value faster that we can make it (last year the Secured Fund Holding that the fund has invested in made about a million dollars and that was all eaten up by fees).