Finally at least there is some light that has been shed on how CFU got in this mess. It looks like it may not have been poor management on their behalf. It looks like there was some relationship with Oakvale and the head of the audit comm & a director with Curruthers. I will conceed that it appears their choice of Oakvale investment manager was misguided, however it appears that all of the investments where at the time portrayed as very safe AAA?
I for one take a little solice in the article as I think it shows that it wasnt gross missmanagement that got us into this trouble.
Just my view.
CFU Price at posting:
7.1¢ Sentiment: LT Buy Disclosure: Held