Sirloin,In my view the problem with the National Vinyard Fund...

Sirloin,

In my view the problem with the National Vinyard Fund was that it was always a very questionable investment. IWI money went in, never paid a dividend and can't be got out.

I suspect that the Fund is run by an ex executive of IWI. The fund manager probably has an ironclad permanent contract and IWI is only a minority unitholder anyway. A dreadful situation for IWI to have got itself in.

The Bibendum situation doesn't seem so bad. I understand it is a regular operating company however as a minority shareholder IWI is in a poor situation there too.


Bacci