Fairly obvious what's happened here guys. This fund made up it's...

Fairly obvious what's happened here guys. 

This fund made up it's performance numbers for 3 years by trading piles of junk. They then paid every broker in the street to spruik the story. a stack of money raised in the LIC was then used to unwind those lousy illiquid positions . In other words the listed (trapped) money was used to bail out the unlisted money. That's why the fund 'returned' $700m of client money in the unlisted fund just after LSF listed. 

Don't know how u can get away with claiming you're raising $400m in the prospectus, have investors rush forward thinking it's a tight issuance and then turn around once the cheques have been posted and say "hey guys, minor amendment, we've decided to raise $1.3bn instead!" What a criminal rort!