so what is CIMB Malaysia and AHAM doing ? waiting the news to spread like fire to the whole nation ?

it is the Relationship manager from CIMB that guarantees principal return upon call date of the bond.

What actions needed to be taken against this relationship manager from CIMB ? since he says the bond capital is guaranteed.

Not true, indeed they are merely distributing the fund, however they still have to market and sell it. If the bank had sold the product as though it was a fixed deposit, this may give rise a claim (example Singapore and HK Mini Bond incident, i think some investors got back their money because of representations made by the bank).

The problem is the quality or the evidence adduced by the complainant. In this case, the person mentioned all were communicated "verbally". Likelihood, the complainant will get his / her complaint stomped bloody by a wall of terms and conditions, which ironically includes the fact that you should read the offering documents before completing the application form and coupled with the fact that only Sophisticated investors can purchase such products. So it seems whatever argument the complainant has, it's shaky at best and ability to move the needle is negligible.

Unlikely to be either, it will be the trustee of the fund to initiate the suit. The trustee is the legal owner of the fund.

There is no misrepresentation by the fund manager because what the fund manager intends to say is embedded in the offering document. Save where there is material omission/incorrect representation and the likes in the offering document.

The fund was sold by an IUTA to its customer. Also, IUTA enjoys a nominee structure, meaning to say the fund manager has no knowledge who the end customer is. This fund would have been sold by the IUTA's own relationship managers and the customer had relied on the representation from the IUTA.

In terms of investment but when it comes to protecting rights of unit holders the demarcation in the deed is clear. The trustee has a fiduciary duty towards the fund.

The term is used loosely here, there is a distinction between CIMB's RM and the fund house manager. In which case, the fault more likely lies with the former, which is the point I am driving at.

Indeed trustee takes instruction from the fund manager and pays a fee for the services rendered because the trustee does not have fund management knowledge / expertise.

As you have mentioned, the trustee is only to "hold and to protect the fund" what constitutes the fund is obviously the assets and the unit holders that are within it.

when we want to liquidate the investment but the CIMB bank manager says to wait write up from AHAM but too late as FINMA already trigger write down. Who should bare losses ?

CIMB bank manager promise and say wont write down to zero, when we called him on the phone to liquidate that evening was 60 cents already.

It' a bond and purchase through CIMB Bank Malaysia and its bank manager guarantees customers that the principal is guaranteed. Unless if CIMB bank manager has follow proper procedures in selling (letting know customers that the bond can be written down to zero) than we might have second taught. Is misselling here that what Im trying to say as we are victims to the CIMB bank manager, and CIMB Malaysia must be responsible towards it's customers.

Its a bond, and its CIMB Malaysia. Its called cheating as what AHAM and the bank manager present its different. Not any customer btw, is Preferred.

Again it's a bond, a bank CIMB and principal guaranteed as told by the bank manager.

A lot of these Branch Managers and RMs are just simply pushing all forms of products without fully explaining the risks. Last few years, I have heard of uncles and aunties being sold equity linked Glove stocks, China tech stocks. All kena burn.

About time some people make these bankers accountable.

Just curious which are the banks in Malaysia which is also selling CS's bond other than CIMB ?

The 2 bond funds that got wiped was around RM70 ~ RM100m, depending on how you count it....
It had me wondering for a while that it cant be all just insti buying this, but rather must be some individual and surely some unfortunate one were losing more than others...
also a mere rm10k entry point surely quite some people kena...

Guess the news is slowly coming out...

Cross selling fund or insurance to FD uncle is surely quite profitable to the bankers.....

what when (NAV date) did you see the fund still has 30% in value ? not supposed to be negative ?

everyone got this?

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