Just wanted to send a quick note out publicly to say thank you for the patience for those who have expressed an interest in the future mutual fund. (of course if/when approved, you must read the prospectus before investing)
I can't talk too much about what is going on behind the scenes but suffice to say the process has taken much longer than expected. The initial paperwork was filed back in December 2010 and I naively thought we'd be up and running by May-ish, perhaps June. (5-6 months) Due to a lot of circumstances, we are still in review - currently in the 3rd round. It's now been 9+ months of review. According to legal counsel this is a very atypical amount of reviews, so it's frustrating for all of us. When I receive emails asking where we stand, I can only say we are still in review. I can't say much more other than to again say thanks for sticking around - I know some of you have been around for 3-4 years - and the process continues.