They aren't mutually inclusive aside from the fact that nobody does it, for several good reasons. The investment mandate is written on paper and has nothing to

They aren't mutually inclusive aside from the fact that nobody does it, for several good reasons. The investment mandate is written on paper and has nothing to do with the fund's structure. Nobody makes investment mandates with funds that are structured that way, except Softbank. Shrug emoji. Typically an investment into a fund is done with shares which bear no interest. This means that no money is being pulled away from the fund while it invests in things which cannot be liquidated. Softbank is investing in things which cannot be liquidated, all while money is flowing out of the fund to a large portion of shareholders at 7% a year.