OCV octaviar limited

I was thinking it is blatantly obvious our Fund has been bled...

  1. 1,717 Posts.
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    I was thinking it is blatantly obvious our Fund has been bled dry with approx only 5 cents per unit having been returned to unit holders and no prospect of any further returns. The PIF was worth in excess of $400 million (without any compensation) when WELLINGTON CAPITAL LTD took control of the Fund. If found negligent, KPMG will be responsible for a certain percentage of loss of capital and should have to pay the same percentage of loss of income/interest on individual unit holders investment supposedly as at Oct 2008. Should this be the outcome, if I was KPMG who may have to compensate us also for the losses made to date under the management of all others involved since the collapse of Octaviar I would be looking for answers as to where the money has gone and who was responsible for such losses after Octaviar collapsed!!! A percentage of capital loss of approx 95 cents per unit as they are worth nothing now and also 5 years of lost income will be a substantial amount in the event KPMG have to pay compensation.
 
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