What's in Your Money Market ?
The symbol on Bloomberg is: AXUSLCU LX Equity. I use the phrase "allegedly", because I have not as yet been able to confirm the exact nature of what triggered this nice little mark-down...
AXA IM Fixed Income Investment Strategies - US Libor Plus fund is a fund registered in Luxembourg. The investment objective of the Fund is to produce an annual total rate of return on a net of fee basis which exceeds the benchmark (one month Libor) index rate of return of 50 basis points.
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AXUSLCU daily chart with 50 and 200 day moving average
Ouch!
I always say, there is nothing more expensive than reaching for Yield.
Tuesday, July 24, 2007 | 11:46 AM | Permalink
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It's interesting to see supposedly savvy investors vicitmized by a simple pyramid scheme.
Sure you can get a reliable 10% real return paid in predictable monthly increments even though the economy is only growing at one fifth that pace. So long as new "investors" keep piling cash into theses funds, everything should be fine.
Posted by: super-anon | Jul 24, 2007 12:31:06 PM
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