Hi Rodney, I think I mislead you on the thermo op fund. I now have a prospectus in my hand and it turns out that it does not invest in tmo at all, only the subsidieries. The portfolio sectors as shown in a "pie" are as follows: 63% thermo subsidiery common stock, 1.6% non-thermo common stock, 1.6% private placements, 20.1% cash, 13.5% convertible bonds. As of the end of the year, the five largest holdings in the fund are, in decreasing order, Thermo cardio, thermo optek, thermo ecotek, thermo voltek, and thermotrex. As of the end of the year, the one private placement in the portfolio was an investment in thermo eurotech, a european subsidiery of thermo terratech. They go on to say that their "goal is to continue to invest in private placements in thermo electron subsidieries when possible to provide our shareholders with the opportunity to participate in the growth in companies prior to them becoming public."
The fund is a closed end investment company which means that the value of the shares traded may not exactly reflect the underlying value of the securities in the portfolio.
The fund is a long term growth fund. The sales load is kind of steep, at 6%. Good Luck.
EDWIN K.
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