[1] The Free Enterprise Action Fund was criticized for taking ideological stances at the expense of its investors' interests.
Daniel Gross, in Slate,[2] wrote: FEAF's managers also don't appear to be very interested in making money.
But the prospectus promises that fees won't eat up more than 2 percent of total assets each year.
If the fund's assets rise sharply in the next few years, the adviser can theoretically recoup these waived payments and reimbursements.
Of the $181,612 in 2008, $129,468 was from waiving the investment advisory fee, leaving $52,144 as the amount reimbursed out-of-pocket to the fund by the adviser for other operating expenses.