At the request of an investor, I draft this letter for your use. You can sign and send it to the trustee. Please send it on your own, immediately. I am not organising a collective letter.
(take the address or fax number from the letter that you received from them)
JUBILEE SERIES 3 LINKEARNER NOTES
I am an investor in the above Notes. I was informed by the distributor that the redemption value of my investment is nil.
My particulars are:
Amount invested: $
I wish to ask you, as the trustee, to provide the following information to me within 14 days:
a) A full statement of account showing the money invested by all the investors into the Notes, the charges that are taken out of the fund (showing the amount, payee, purpose of payment), the investment of the fund (showing the amount invested and realised value, and loss incurred) and other relevant information.
b) Why were the investors not informed earlier about the intention of the arranger to liquidate the underlying assets? What is the provision of the trust deed relating to this matter?
c) Why were the assets liquidated at this time, when the prices are at rock bottom, due to the lack of liquidity? Was it possible to wait for a better time to liquidate the assets? Which were the parties that bought the assets? How were the prices of these assets determined? Which broker handled the transactions?
d) Please provide details of the underlying assets that led to a total loss of the principal invested in these Notes.
I wish to register my protest at the disposal of the underlying assets at this bad time, and want to be assured that, as the trustee, you have dischrage your fiduciary duty in looking after my interest in the disposal of the assets.
(name of investor,
cc Monetary Authority of Singapore
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