[kevinmchugh]

I've seen (and implemented in code) some pretty brutal liquidity algorithms. I've no doubt God could use such algorithms to always ensure positive performance on those dates on which liquidation is possible.

Funds might be locked up for two years, and afterwards only redeemable on the first day of the fiscal quarter. On the first liquidation event, only 25% of the funds are redeemable. If you submit notice on the first day of the next fiscal quarter, 33% is redeemable, followed by 50% and 100%. If you miss a quarter, the sequence starts over.

That one is not even terribly complex.