MacGold Direct Inc.

October 17, 2005 11:20 ET

MUTUAL FUND INDUSTRY ABOUT TO BE HIT WITH 5 TO 7 MILLION CLAIMS

INVESTOR RAGE! Attention: Business/Financial Editor, Lifestyle Editor, News Editor THORNHILL, ONTARIO--(CCNMatthews - Oct. 17, 2005) - A "Do it Yourself" Investors Loss Recovery model has been developed by Robert Goldin, a forensic financial auditor of MACGOLD DIRECT INC, that enables 5 to 7 million Canadian mutual fund investors, who were victims in the recent mutual fund market- timing scandal, to calculate and claim their investment losses from their allegedly market timed mutual fund companies. These losses could collectively total hundreds of millions of dollars. This model is about to shake up the Canadian mutual fund industry, because it gives outraged investors the tools to fight back with. The battle between Bay Street and Main Street is about to begin.

Until now most investors didn't know that they were affected by the mutual fund timing scandal. They had little or no way of knowing whether their mutual funds had been market timed or not, or whether they had lost any money in the market timing scandal. Other burnt investors couldn't claim their losses because they didn't know how to calculate them.. This model solves all these problems.

MACGOLD"S website identifies over 100 alleged market-timed funds and the "Do it Yourself" Investors Loss Recovery model provides investors with an easy to follow formula that enables them to calculate their losses, which include their loss of profits, their lost opportunity costs, their early redemption losses, and their performance losses. The model also gives investors simple instructions how they can recover their losses without the services of a lawyer. It's easy to understand and can be used by even the most inexperienced investor. Without this model, it would cost investors tens of thousands of dollars to find out what they have lost, and then to recover those losses.

The Ontario Securities Commission's settlements with 5 mutual fund companies (out of a possible 20) investigated for market timing activities are described by them as "a theoretical quantification" of the harm done to investors, and does not, in the opinion of Robert Goldin, fully compensate the 5 fund's investors. (Many investors are dissatisfied with the small amounts of the cheques that they have received.) Meanwhile millions of other harmed investors in the other funds get nothing! No wonder investors feel outraged and short changed--- but all that's about to change with the "Do it Yourself" Investors Loss Recovery model.
IN: FINANCE

Contact Information