{"id":950,"date":"2003-09-04T00:00:00","date_gmt":"2003-09-04T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"us-type-swindle-could-hit-unit-trusts","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2003\/us-type-swindle-could-hit-unit-trusts.html","title":{"rendered":"US-type swindle &#8216;could hit unit trusts&#8217;"},"content":{"rendered":"<p>THE alleged swindling of millions of mutual fund investors in the US could in theory be replicated with unit trust investors here, a leading independent financial adviser has warned.<\/p>\n<p>  &#8220;It&#8217;s technically possible,&#8221; said Bestinvest director John Spiers, who added that he had no evidence there was any wrongdoing in Britain and that it would be illegal. &#8220;I suspect every fund company  here will be getting in independent auditors to ensure everything&#8217;s OK,&#8221; he said.<\/p>\n<p>  New York Attorney General Eliot Spitzer is investigating allegations that mutual fund managers allowed hedge funds to engage in after-hours trading at the expense of their ordinary small investors.<\/p>\n<p>  He likened &#8220;late trading&#8221; by hedge funds to &#8220;betting on a horse race after the horses have crossed the finish line&#8221;.<\/p>\n<p>  Unit trusts in Britain are similar to mutual funds in the US, and are usually priced daily at noon or 4pm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>THE alleged swindling of millions of mutual fund investors in the US could in theory be replicated with unit trust investors here, a leading independent financial adviser has warned. &#8220;It&#8217;s technically possible,&#8221; said Bestinvest director John Spiers, who added that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-950","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=950"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/950\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}