Although I'm unlikely to invest in CIY I haven't totally discounted putting a few of my speccy dollars into it, however to state the obvious value is purely a function of future profit.
What I can't come close to working out is the impact that an outflow of investors from their funds will have on profit. Clearly as the fund sizes reduce so will their ability to fund developments / charge fees ...
Apart from the profit impact, we have absolutely no idea what the outflow will be. Even if I had a model to work by I would not know what the starting point for fund size is.
Clearly with redemptions suspended financials to June 2008 will be close to meaningless (except to demonstrate liquidity and solvency) as the outflow of funds will really only kick in during the next financial year.
I would have thought that a critical part of CIY's disclosure requirements at the moment would be what level of redemption requests have been made? Am I the only one who believes this?
CIY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
