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Saudi funds tend to have stiff expense ratios and, in some cases, hedge-fund-like performance fees, as well.
The discounts, coupled with the fat current yields (both near 14%), take the sting out of the funds' stiff expense ratios (HIX, 1.32%; EMD, 1.85%).
Are you paying a stiff expense ratio on an actively managed fund that is no better than a cheap index fund?
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Despite this potential hazard, and a stiff 2% expense ratio, I like the Gabelli Global Gold, Natural Resources & Income Trust (GGN, 16), which yields 10% and trades at an 8% premium to net assets.
Given its stiff price (expenses run 2.2% a year), that's the way to treat it.
Most people buy this fund through a broker-sold share class carrying a stiff 1.7% annual expense ratio.
Billionaires like Trump make off with too much of the nation's income and wealth, at the expense of ordinary working stiffs.
The expense was rationalized as a stiff surcharge on Kidd's maximum-salary contract, but then came the buyout of Dikembe Mutombo, and by Thanksgiving, the Nets were out a second Georgetown center and haven't seen him since.
Its 1.8% annual expense ratio is a bit stiff, but has come down from 2.5% in 1995 and should continue to drop as the fund gets bigger.
Here, α controls the "tightness" of the penalty: a larger α places a stiffer penalty on constraint violation at the expense of a larger steady-state convergence error.
This is at the expense of computing the exponential of the stiff matrix comprising the finite volume discretisation.
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