concrete actions needed, page-12

Another Perspective

Let’s look at this from the viewpoint of the average PIF investor the client base (or if you like Alpha analogy the broken BMW ) in the majority of cases they have invested because a monthly income is indispensable these people are retirees and pensioners in the main who mistakenly thought the PIF was a safe investment vehicle

Then they suddenly wake up to find they have been lied to and deceived the fund has a huge undisclosed debt of 184 million and no dividends are going to be paid for a year

In fact their life savings are in imminent danger of going up in smoke and they are facing financial ruin

Can these people faith be repaired like a BMW do you think they will casually accept their hard earned being destroyed, (I don’t think so ) it’s common knowledge that the bulk of investors in the fund have already placed in their redemption requests

So does the fund really have any value at this point in time ? any new RE is going to have a huge task in rebuilding confidence and credibility or otherwise they will face an exodus of biblical proportions as sure as night follows day