QUOTE(yklooi @ Jan 7 2015, 06:11 PM)
Deputy Finance Minister Datuk Ahmad Maslan has conceded that the federal government will step in to meet the US$3 billion (RM10.02 billion) obligations of 1Malaysia Development Bhd (1MDB) under the letter of support it gave.
- See more at: http://www.themalaysianinsider.com/malaysi...h.XAnAXbh9.dpuf
QUOTE(Pink Spider @ Jan 7 2015, 06:15 PM)
Assets of unit trust funds are separated from assets of the fund management company. Remember your fund Trustee?
QUOTE(aurora97 @ Jan 7 2015, 06:31 PM)
To add.
There’s a lot of misconception just because the Fund is named after a particular FM, it is owned by that FM including everything (+liabilities) in it etc… That’s not true.
In a trust structure, the FM is merely employed to manage the Fund in return for a fee.
Another interesting fact to add on, the Fund is self-sustaining even if the trustee goes bust. Only downside, the accounts will be in a mess just like Lehman's when it went bust.
Thanks For the fast replies, learned something today..There’s a lot of misconception just because the Fund is named after a particular FM, it is owned by that FM including everything (+liabilities) in it etc… That’s not true.
In a trust structure, the FM is merely employed to manage the Fund in return for a fee.
Another interesting fact to add on, the Fund is self-sustaining even if the trustee goes bust. Only downside, the accounts will be in a mess just like Lehman's when it went bust.
You all are so helpful
Jan 7 2015, 07:18 PM

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