WTF are you talking about? Shareholder dilution doesn't happen because you're open ended! 98% of funds are open ended.
In fact, because they pay more than they earn, secondaries or 'rights' deals are INEVITABLE on ZTR. Rights you Must subscribe to or you Will be diluted. such as 2010. because it will almost always be trading at a significant discount, shareholders can't get what it's worth/
Did those greedy ZTR mgt types send you? if not you're just a stupid POS.