NEWS ANALYSIS: Absa’s closure of money market fund only fuels speculation

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

대한민국 뉴스 뉴스

Absa saying it closed the fund because clients didn’t understand its risks doesn’t add up, considering 30% of assets are from retail investors

Absa saying it closed the fund because clients didn’t understand its risks doesn’t add up given just 30% of assets are from retail investorsAbsa’s stated reason for winding down its money market fund, one of the biggest unit trusts in SA, has served to fuel rampant speculation that the bank is not being completely transparent with the public who have ultimately been left with more questions than answers about the fund’s closure.

The bank’s official line is that its decision to close the fund was based on an independent review that found clients believed investments in the fund enjoyed the same safety guarantees as cash held in a bank account. This was partly due to the fund’s rather unusual integration into Absa’s banking system as it allowed investors to make withdrawals from the fund directly from ATMs — not a typical feature of most unit trusts...

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 12. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

NEWS ANALYSIS: Absa’s closure of money market fund fuels speculationAbsa saying it closed the fund because clients didn’t understand its risks doesn’t add up, considering 30% of assets are from retail investors
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »