Quote from: romerun on October 09, 2013, 11:27:55 PM

What're the catches of AM1 in Havelock? Any dividend/tranferin/out fee? Any limitation to transfer out? etc

From the prospectus: https://www.havelockinvestments.com/fund.php?symbol=AM1

- Each AM1 share has the right to 100% of its respective dividends. There are no asset management fees for AM1 shares.
- There is no fee to import shares. There is no minimum quantity for importing shares. (With multiple import sources, including at the time of writing the other existing passthroughs.)
- One transfer OUT of AM1 will be processed free once per month per account. Subsequent transfers within the same month OUT of AM1 are subject to a fee of 0.25 BTC for transfers of 49 shares or less.
- Transfers OUT of AM1 are always free for any transfer of 50 shares or more.
- Export requests to Friedcat will be submitted within 48 hours of receiving your shares.

This all seems very favorable when compared to either the btct or bitfunder passthroughs (especially bitfunder).

The only "catches" it seems are that the issuer reserves the the following rights:

1. To change schedule of dividends to be in line with any changes in schedule the underlying asset may enact.
2. To change the % of board mining profits withheld if expenses, like electricity, are not covered by the 15% portion being withheld.
3. To make changes to this contract that represent the best interests of its shareholders.
4. To correct and clarify any gross errors or details herein that may prove to be open to misinterpretation.
5. To discontinue import services.
6. To refuse abusive requests of the import/export services offered.

Right now there are basically two places (other than OTC) to trade whole shares. Havelock and bitfunder (G.ASICMINER-PT).

Despite explicit rights in the prospectus, G.ASICMINER-PT's operators have not been allowing share imports OR exports for the past couple of months, so I'd say that it's seems that Havelock is the only game in town for shareholders that want to trade whole shares, and still have the opportunity to export to direct shares. I would also say that it seems inevitable, that over the next few weeks that AM1 will grow to become the largest passthrough.

-helixone