Online Investment Program, FeederFund, updated as of June 2007
Recently the losses associated with FX Investment Group (FXIG) and the news of the fraudulent deception by Phoenix Select Holdings Inc. (PSHI) have caused major concern over the level of loss that might be sustained and the situation with Index Trading Systems (ITS) still remains unresolved.
Due to this dire situation, the decision had been taken in April to liquidate all the assets of programs that could be accessed and make full balance repayments for these programs, namely Sierra Arbitrage Fund (SAF), Northsea Forex Group (NSFG), JoyFund, InfiniteLottto (ILC) and the Cash Account. In April, all these programs were liquidated and just under $300K of E-gold was attained ready for these settlements to be actioned. unfortunately the E-gold account was frozen pursuant to a court order issued by the United States District Court for the District of Columbia case number 07-198-M-01, preventing the process from occurring.
FeederFund is now closing down as some of their investments did not do well.
FeederFund updated as of May 2007
The situation with Index Trading Systems (ITS) has been plainly disastrous.
Phoenix Select Holdings Inc. (PSHI) and FX Investment Group (FXIG) have been removed from FeederFund's program list as of April 2007 due to fraudulently deceived by a single individual who has full control of the Phoenix Select Holdings Inc. (PSHI)'s assets and catostrophic loss in recent FX Investment Group (FXIG)'s bad trading respectively.
Sierra Arbitrage Fund (SAF) has been added to FeederFund's program list on February 2007.
Sierra Arbitrage Fund (SAF) is a fully regulated Investment Fund with a minimum direct investment of $100,000. Its investment strategy has been very successful over the last number of years in providing a very good return with very low risk. 2006 provided a net compounded profit of 46%.
This pure arbitrage investment strategy is designed to be an excellent performer, whilst not being dependent on the fluctuations of the world markets. The aim of Sierra Arbitrage Fund (SAF) is to achieve long term capital appreciation, and is suited for investors seeking stable and consistent equity growth.
Sierra Arbitrage Fund (SAF) has completed a solid month for March at 3.1%.
Northsea Forex Group (NSFG) had a disappointing month at - 7.16% due to some technical problems with its trading platform.
JoyFund had a good month and returned 9.76%.
Brief description about FeederFund can be found at Online Investment Info blog.
Labels: FeederFund, HYIP, Online Investment Programs, Private Investment