This message is to support my previous message. Please see my previous message before reading this. The StanChart fund can make money as long as the "hot market" lasts and the fund manager closes positions early, soon after the IPO, to book profit. The investment proposition, however, goes against the very idea behind in investing in mutual funds: to reap the benefits of diversification at a lower cost. Any way, the objective of the fund can not be refuted on the ground of irrationality, for reasons explained in my previous message.
