This brings me to the subject of the reform agenda that we believe can move the trust industry to even greater heights…. and allow it to take its rightful place in our financial system. The harsh lessons of the bond and equity market sell-off in May 2006 that hit hard UITFs should not be so readily forgotten.
Yes….there has been significant recovery since then, for those who held their ground as markets rebounded as expected,…. but it cannot be denied that investors who panicked got hurt from that unfortunate episode.