Local unit trust loses 66% in two days

[ActivateD]

CAPE TOWN – In what appears to be an unprecedented episode in the South African unit trust industry, investors in the Third Circle MET Target Return Fund lost 66% of their investment in just two days last month. The fund’s net asset value fell from 98 cents per unit at the close of trade on Thursday 10 December to 33 cents per unit by the close on Monday 14 December.

http://www.moneyweb.co.za/investing/local-unit-trust-loses-66-in-two-days/

Ouch talk about taking a huge knock. I would be seriously upset with the fund managers.

 

[supersunbird]

Derivatives and futures and all that mumbo jumbo...

 

[airborne]

Ouch, wonder what type of investors were predominantly exposed?

 

[thehuman]

wonder what pulled them down
thier portfolio most probably not public

 

[Venomous]

Was this not around the time zoomer gave nene the axing?

edit:

If so, then why did the unit trust people stay quiet for over a nomth?

 

[ActivateD]

Was this not around the time zoomer gave nene the axing?

edit:

If so, then why did the unit trust people stay quiet for over a nomth?

It was around that time according to the article.