A.I.M. Users Bulletin Board

[SFSecurity]

Hi Gang, Poking around can be dangerous to perceptions.

Way back in 2/8/1998 on Silicon Investor a gentleman was chatting with Tom about PBEGX, a mutual fund. So I got curious to see what had happened to it since then. Well, imagine my surprise when I found:

Company: Pilgrim Baxter
Ticker Symbol: NASD: PBHGX, PBEGX, PBHG, PBHLX PBHEX, PBFVX
Class Period: November 13, 1998 through November 13, 2003
Court: Eastern District, PA
Date Filed: Nov-14-03
Lead Plaintiff Deadline: Jan-13-04

So I did a bit more digging and found that both Pilgrim and Baxter were banned from being securities advisers. PBA was renamed Liberty Ridge Capital by parent company Old Mutual. The PBHG Funds were absorbed into the Old Mutual Funds group, and Liberty Ridge Capital ceased operating in 2009.

The fund holders split $250 million but it is not clear if that actually made them whole. In any case, it appears that bond funds can go to zero.

I wonder under what circumstances an ETF/ETN could disappear leaving us holding the bag?

Warmest Regards,

Allen