Have you suffered losses investing in the Nysa Fund? If so, the securities attorneys of The White Law Group may be able to help you recover your losses through a FINRA arbitration claim against the brokerage firm that recommended the investment.
According to reports, the Nysa Fund is the worst performing mutual fund of 2014, down approximately 41% for the year. The fund received just one out of five stars from Morningstar, the worst rating for past performance awarded. As of its most recent semi-annual report, filed in September, the Nysa Fund reported that, net of waivers offered, fund expenses totalled 2.76% of average net assets. Large fund holdings, as of September, included natural resources company Freeport-McMoran, shipping and deepwater drilling company DryShips, and drugmaker Dendreon. All three have recorded massive losses this year, and Dendreon even filed for bankruptcy in November.
According to Bob Cuculich, portfolio manager of the Nysa Fund, the fund should be considered a speculative investment and is designed to constitute only a small part of a well-diversified investor’s portfolio.
Notwithstanding the risks of the Nysa Fund, some financial advisors may have downplayed these risks and recommended the investment to their clients unsuitably.
The White Law Group is investigating the liability that brokerage firm’s may have for recommending this risky investment. Brokerage firms are required to perform adequate due diligence on any investment they recommend and to adequately disclose the risks of any investment. Additionally, brokerage firms are required to ensure that all investment recommendations made are suitable in light of the client’s age, investment experience, investment objectives, net worth, and income.
If it can be demonstrated that a brokerage firm failed to perform adequate due diligence, to properly disclose the risks, or recommended an investment unsuitably, the firm may be held responsible for any resulting losses in a FINRA arbitration claim.
For a free consultation with a securities attorney, please call the securities attorneys of The White Law Group at 312/238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. The firm represents investors throughout the country in FINRA arbitration claims against their brokerage firm.
For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.