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been a little unplugged lately, apologies if it's a repost.
courtesy of zerohedge.....
"It was only a matter of time before asset managers said "enough" to Bernanke's plan of debasing the dollar day after day, and took appropriate measures. In a not very surprising, yet quite shocking at the same time, development, caught by Annuity IQ, Lazard's The World Trust Fund has had enough of the dollar. Lazard will "change the currency in which the Fund’s shares are traded from US dollars to Sterling." Good work Mr. Chairman and Wall Street lobby.
BusinessWire reports that as a result of the insane dollar printing press operator's actions, Lazard will:
(i) change the currency in which the Fund’s shares are traded from US dollars to Sterling;
(ii) undertake a sub-division of the Fund’s share capital on the basis of 10 new ordinary shares for each existing ordinary share;
(iii) change the benchmark of the Fund to the MSCI All Countries World Index; and
(iv) increase the NAV on which the performance fee calculation is based ("Reference NAV") to reflect the underperformance of the Fund over the previous 12 months.
..."
http://www.zerohedge.com/article/laz...d-dumps-dollar
courtesy of zerohedge.....
"It was only a matter of time before asset managers said "enough" to Bernanke's plan of debasing the dollar day after day, and took appropriate measures. In a not very surprising, yet quite shocking at the same time, development, caught by Annuity IQ, Lazard's The World Trust Fund has had enough of the dollar. Lazard will "change the currency in which the Fund’s shares are traded from US dollars to Sterling." Good work Mr. Chairman and Wall Street lobby.
BusinessWire reports that as a result of the insane dollar printing press operator's actions, Lazard will:
(i) change the currency in which the Fund’s shares are traded from US dollars to Sterling;
(ii) undertake a sub-division of the Fund’s share capital on the basis of 10 new ordinary shares for each existing ordinary share;
(iii) change the benchmark of the Fund to the MSCI All Countries World Index; and
(iv) increase the NAV on which the performance fee calculation is based ("Reference NAV") to reflect the underperformance of the Fund over the previous 12 months.
..."
http://www.zerohedge.com/article/laz...d-dumps-dollar
).... guess I've been disconnected. 
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