NEW YORK (Reuters) – Funding supervisor Donald Netter is stepping up his battle with First Belief Excessive Revenue Lengthy/Brief Fund (FSD) by asking the closed-end fund to restructure or give traders their a refund as a result of it has been buying and selling at a reduction for years.

Netter, whose Dolphin Restricted Partnership I LP owns 450,000 shares of FSD valued at roughly $6.7 million, is criticizing the First Belief fund for buying and selling at 13% beneath the fund’s internet asset worth.

Whereas closed-end funds typically commerce at a reduction the vary is historically a lot smaller, analysts mentioned. Netter, who first started complaining to FSD a yr in the past, mentioned the…

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