Funds Keeping Investors Locked In Indefinitely?

I have found out that Quadrantis’s New Edge Fund, in which I placed my GV investment, won’t let unit holders redeem at their own initiative until the end of the 10th year although when I invested I was told they have a 6-year exit clause. It turns out withdrawals can only be initiated by the management. In addition they also have an option to extend the fund’s maturity by another 10 years. Is anyone else facing the same problem with New Edge or another fund?

What does your subscription agreement say? I’m not and investor in New Edge but have a hard time believing they can do this without shareholder approval.

The extension of the 10-year maturity for another 10 years does require approval of shareholders but this is 2/3 of shareholders who actually vote. I am seeking clarification on the early withdrawal clause.