Selciper, I cannot accept many events that we have experienced with this fund.
What if ASIC had stepped in earlier?
smh.com.au/business/asic-must-step-in-on-behalf-of-pif-investors/20080910-4e5o.html
What if we hadn't had the Rights Issue?
lexology.com/library/detail.aspx?g=102d17b-6dca-48af-8357-fe5225d1e40
What if we hadn't had the in specie transfer?
asic.gov.au/about-asic/media-centre/find-a-media-release/2014-releases/14-293mr-wellington-capitals-high-court-appeal-dismissed
Despite the calamity of the GFC in 2008, so many elderly investors in so many funds were left to be preyed on by vultures imo.
The biggest lessons that I have learnt is that I will NEVER put my hard-earned into these schemes again.
Not only that, but I will shout it from the rooftops ...DONT DO IT ! !
The second biggest lesson is that if and when fund's such as these freeze, NEVER give up your rights to redemptions as per the Corporations Act Part 5C.6 re illiquid funds.
IMO it just separates you from your legal entitlements to what remains of your money.
It has been my unhappy experience that once you become separated, the chances of being reconciled are continually diluted, and no-one really seems to care.
