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Are Regulated Investment Companies suitable for IRAs?

Mutual funds, closed-end funds, and unit investment trusts are the most common forms of Regulated Investment Companies. There is no tax disadvantage to holding RICs in IRAs. Excessive fees and mediocre management make most of these unsuitable for my IRAs.

Their dividend status appears special, as part of the dividend is
return of capital -- yet they are not limited partnerships.

Utility companies also are known for ROC dividends. Because of their high taxable dividends, I would not want to hold them outside a tax sheltered plan.

I'm thinking of ALD in particular.

I don't know enough about venture capital industry to judge value of this company.
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