Your Experience With Some so Called Fund/portfolio Managers

Hello All,

Please I want to know if am the only one going through this pain inflicted on me by so called portfolio managers.

I was introduced to this fund managers by a friend in mid 2008 as a very good fund and portfolio managers. At that time I had this little money I didn't immediately need but wanted it for a project in August 2009. All I was told then was that I can liquidate the investment after a year with a guaranteed interest rate of 20%. I had the option of buying stocks at that time but I didn't because I only buy stocks for long term.

Last month I went to check my investment with the intention of liquidating it a week later. The receptionist I met and told my mission asked me to sit down. After she asked for my names, she printed out a statement and give me to go through.

I went through it and couldn't believe what I saw. They had used my money to buy STOCK. I have lost over 50% of my fund. 

They didn't tell me they were into buying and selling of stocks. If they did I would have told them I have a stock broker and so didn't need there services. I honestly thought they were investing in real estates or at least real estates and stock market to achieve some balance.

 
 

I supposed this organization is an expert in what they say they do(Fund and Portfolio Managers) and so don't have to tell them what to do with the money I invest with them. Besides, I was given a guarantee of a certain percentage as yield on my fund. To imagine that they were going to be buying stocks on my behalf and the stock is not even in my name is just unbelievable.

For now I don't want to mention their name. Am just hoping that I can at least get my principal back. If I don't, I will gladly mention there name