ON THE subject of African Bank Investments Ltd again, are the clients of money market funds legally obliged to accept the Reserve Bank’s offer of a 10% haircut? Those clients are presumably fund managers of some substance and reputation, so they will need therefore to explain (and shift?) their loss to their own clients.
Are large corporate money market investors just accepting the haircut? Have they the right to resist this imposition?
If so, what are the implications?
B Richard Dalberg
La Lucia
Picture: MICHAEL ETTERSHANK
ON THE subject of African Bank Investments Ltd again, are the clients of money market funds legally obliged to accept the Reserve Bank’s offer of a 10% haircut? Those clients are presumably fund managers of some substance and reputation, so they will need therefore to explain (and shift?) their loss to their own clients.
Are large corporate money market investors just accepting the haircut? Have they the right to resist this imposition?
If so, what are the implications?
B Richard Dalberg
La Lucia
Post a comment