Administrator PricewaterhouseCoopers has revealed that investors who put cash into the Exeter High Income Unit Trust, Exeter Zero Preference Fund and Exeter OEIC: Zero Portfolio A Shares before September 1st 2003 could receive compensation from the fund managers.
Between January 2000 and March 2005, when the fund managers went into administration, 656 complaints were received from investors about the three funds.
Our view
A difficult time given that people were investing in things that they thought were low risk and they were not. Fault lies with the provider, the regulator and even the professional institutes who even marked these investments in text books as lower risk!