Markjbloggs
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Bear Sterns says the 2 funds it had invested in sub-prime backed mortgages are essentially worthless -
http://www.reuters.com/article/topNews/idUKN1726029320070717?rpc=44
That is bad enough, but they go on to say that once the extent of the problem became clear, they halted redemptions from these funds.
My question is - in general, can such a scenario happen here? Can a fund management company prevent an investor from exiting a fund if it appears as though the it is in trouble?
http://www.reuters.com/article/topNews/idUKN1726029320070717?rpc=44
That is bad enough, but they go on to say that once the extent of the problem became clear, they halted redemptions from these funds.
My question is - in general, can such a scenario happen here? Can a fund management company prevent an investor from exiting a fund if it appears as though the it is in trouble?