My PSA turned out to be good advice
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You need to look at the transaction fees too. Early withdrawal penalties are just part of the equation. Management fees are also a consideration.
Thank you so much for this! I have a lot of research ahead of me. I’m curious, do you know why the two law firms I spoke to only gave me a list of open-ended funds, and didn’t even mention closed? Thank you again!
Don’t know - maybe just out of date. But as a general rule, everyone should always ask if firms are being paid to introduce clients to investments. Not your lawyers, obviously.
Also note that if you invest with Optimize, you don’t need a Portuguese bank account.
You can wire dollars/Euros directly to their client [receiving] account that they have with Millenium bcp and they’ll take it from there as far as getting you subscribed to their open end fund and getting all the docs that AIMA requires from the bank and the investment fund manager.
We went this route, and so far, so good.
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If I had to speculate wildly, it would be due to all the issues associated with closed funds - lack of liquidity, varying term lengths that also come with some added level of uncertainty due to the ability of members to vote for extensions - or not (which of course impacts returns), hefty subscription and management fees, schemes that possibly fun afoul of the GV terms, the possibilities are endless. With all the changes and uncertainty surrounding the GV program at the moment I imagine they are trying to minimize the amount of moving targets you are trying to hit - the fund timeline being one and the GV timeline being the other.