Managed Funds Macquarie Multi-Stratergie on fire!

Discussion in 'Shares & Funds' started by crc_error, 2nd Oct, 2007.

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  1. crc_error

    crc_error The Rule of 72

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    Lol - I'm so glad to be out of this one 1 month ago..

    Investor Centre - Performance Information

    MQ Multi-Strategy Fund - Capital Protected - Series 1 Units

    Down 8.11% What a joke, 1.5 years it hardly grows during a boom period, yet is the first one to drop a whopping 8% during market turbulence! I would have thought volatility would have improved returns..

    Looks like Macquarie has no idea on how to manage money..

    Anyone here still in this fund?
     
    crc_error, 2nd Oct, 2007
    #1
  2. artgul

    artgul Well-Known Member

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    I left back in March for the same reasons you mentioned.

    >Looks like Macquarie has no idea on how to manage money

    Thay may not has any idea but, they do know how to make it via fees. I bet that the negativity of the fund is by them charging management and who knows what other fees...
     
    artgul, 2nd Oct, 2007
    #2
  3. gazza

    gazza Well-Known Member

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    I got out of the Series 2 fund at the end of june. Just received the distribution yesterday. Meant to be paid out in 40 days - final payouts took 95 days, and they had the audacity to charge me interest on the loan right up until the loan was paid out. I told them in that case they should pay my interest I am being charged on the amount I borrowed to pay their interest , lol. My complaints have been forwarded to the Newton area, I wait with bated breath, not.

    Very glad to be out of the fund, all up I fininshed slightly ahead but only due to the fact I got a rebate from Inbvestsmartwhen I invested.
     
    gazza, 4th Oct, 2007
    #3
  4. crc_error

    crc_error The Rule of 72

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    crc_error, 4th Oct, 2007
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  5. AsxBroker

    AsxBroker Well-Known Member

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    I like that CRC...

    They tell you to stick it and you stick it right back at them!

    Noice!

    lol
     
    AsxBroker, 4th Oct, 2007
    #5
  6. crc_error

    crc_error The Rule of 72

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    lol.. I probably wont get anywhere as I'm sure they have covered their butt in the PDS, but at least its a red cross next to their name, and it will waste someones time at macquarie responding and answering to ASIC.

    As gazza mentioned, it stinks that they keep charging you interest for 95 days yet give you a price 3 months old.. Why don't they stop interest payments if they stop counting future gains?

    Anyway, the more people that hear of the way Macquarie deal with their customers, the better. Hopefully I'll stop someone else investing with Macquarie and prevent them from losing down the track like I did.
     
    crc_error, 4th Oct, 2007
    #6
  7. Handyandy

    Handyandy Well-Known Member

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    What a laugh.

    I waited until this month to wait for the drop to work itself out of the series 1 fund. Put my withdrawal in last week and now we have a 8% drop:eek::mad: It took since inception to gain just 7% yet only 1 month to loose more.

    So from just breaking even I will now be faced with a loss :(:(:mad:

    Not very cheery
     
    Handyandy, 5th Oct, 2007
    #7