Another part of the scam revealed for all to see.

In addition to any Proxies I may have been given for the Octopus Future Generations VCT AGM in 2 weeks time, I thought I might have another go (my sixth) and try and buy share(s) in the market.

What was I told?

"The Market Maker will sell to you so long as you accept delivery in 18 months time"!

This situation has been the same ever since OFG was created (with an ever reducing delivery period) because the Directors have not given the "broker" any authority under the shareholder approved buy-back vote.

So any poor sap who has to sell (death, divorce, debt) before the 5 year tax claw back deadline simply can't.

Further proof of the 5 year rolling Ponzis scam run by the favoured "Churn Finnancial Advisers" - upto 35% of shares now held in nominee names..

Don't anyone tell me that this whole scam isn't driven entirely by tax avoidance and outrageous unjustifiable "2+20" fees and a feeding frenzy for Howard Kennedy llp and the select few firms of Chartered Accountants in the ever rotating pool of auditors, independent valuers and liquidators for outrageous fees that the directors and liquidators refuse to disclose contrary to law (and then like Gresham House openly state we will send you the answers to questions at the AGM but never do).

It is time to bring this whole squalid sector to an end.

Interesting podcast on Vanguard that sets out that the 2+20 is explained as being necessary because only the chosen Investment Manager can provide exclusive access to investments that no-one else can.  The rest of it rather shoots the whole 2% on NAV down in flames.

https://www.acquired.fm/episodes/vanguard

As for any fees, other than initial commission and running costs, being charged at all surely the days of any % of NAV by all private equity managers are numbered.

Bring on the day when all entreprenurs simply add their name/business to a datbase accessible by all Investment Managers.

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