LOL...I wouldn't say they are lazy. What I would say is that they need youth aiding them in their decisions, as well as broadening the scope of the investments. They won't consider even small investments in BB listed stocks from what I can see. AKNS, VTKT, PLKT, CPTC are all good investments had they stepped in early on or at least given them consideration. I'm not suggesting they make large wagers, but buying $50-$100k in smaller, solid companies like those might pay off huge for investors. They are opposed to investing in Chinese companies as well, as they see conflicting interest in wages they receive and treatment of the employees. But I'm fairly certain, a few of the companies they should invest in ie JASO, STP, SOLF, pay their employees pretty well.
All in all, I think the 4.75% may be a bit steep, but I also think its a great fund, that is managed pretty darn well. They seem to do a good job at making solid investments into established companies...just wish they would take a few small wagers into up and coming companies and buy into some China stocks if indeed they are good to their employees.
Please pass this on. If you open an account with Chas. Schwab you may purchase NALFX without the 4.75% fee. I have found numerous "loaded funds" that can be bought no-load @ Schwab for only a small fee. Usually around $35.