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.

didnt you tell them specifically what you wanted your money to be put into? either Real Estate, Stocks, Oil and Gas or other means.
Please mention the name of the fund managers so other people can know how to avoid them incase of next time,

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

While we are waiting to know their name, so we can take precaution, I want to say that I have never been able to trust these portfolio managers or mutual fund hype. To me the bring nothing to the table except the hype and their translucent offices. Any funds I will not be using in 30 days I fix it with the bank. That way I am sure of returns no matter how meagre, instead of getting deductions in the current account or next to nothing in the savings account.

If you signed any contract with them, that guarantee's 20%, then the firm dont have any choice than to pay you, your principal and the guaranteed sum.But, if there was no contract between you, better collect your loss and forget about it.
Best of luck.

I sympathize with this victim.

Nevertheless, it shows that lots of investors are BLIND INVESTORS. How can you allow that to happen. You waited for A year to know where your treasure was placed and now complaining.

Let everyone understand this, The Fund Manager did not do anything wrong by Investing for you. You are entitled to you interest if there is a genuine document duly signed by them to pay you the interest.

The contract document should indicate the tenure and type of investment.


Please lets us all be wise when we go into investments. This does not mean that there are no sincere Funds Managers. You only need to make your transactions legally valid and enforceable.

Anyway, tell us their name, may be they can be petitioned. But remember, HE WHO MUST COME TO EQUITY MUST COME WITH CLEAN HANDS.