Investors in Morgan Keegan and Regions Morgan Keegan bond mutual funds thought they were making prudent investments. The sales materials for the funds in question, talked about securing high rates of return by purchasing bond products without jeopardizing the underlying principal. These funds are lost a staggering amout of percentage of their values in the last 52 weeks, with some of them trading more than 75 percent below their 52 week hights. If you purchased one of these mutual funds you were likely misled, and you may have legal rights.
A mutual fund that does not have restrictions on the amount of shares the fund will issue. These types of funds can continue to issue shares no matter how many investors want to invest in the fund. When investors in open-end funds decide to sell, the mutual fund company buys back their share. Most mutual funds are open end mutual funds. Even though open-end funds do not have size restrictions, the managers of these funds often decide to restrict their size to prevent the funds from becoming too large to execute their strategy.
A closed-end fund is a publicly traded investment company that raises a fixed amount of capital through an initial public offering or IPO. The fund is then listed on a stock exchange and traded like any other stock. The price of these funds are quoted throughout the day just as any other stock, and an investor can decide to buy or sell at any time during the trading day. The prices of a closed-end fund fluctuate according to supply and demand as well as the changing values of the securities in the fund's holdings.
It is one thing to lose money in the stock market when you know you are making risky investments. However, when an investor is lead to believe they are making a conservative investment in a bond mutual fund and then loses 50 to 60 percent of their investment, someone needs to be held accountable. Morgan Keegan and Regions Morgan Keegan intentionally mislead investors who purchased these funds. If you lost money investing in either one of these funds you may be entitled to compensation. Contact Mark & Associates, P.C. today for a free case consultation by submitting the form on the right side of this page or by calling 1-866-50-RIGHTS (1-866-507-4448).
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