[Topic title edited for clarity - moderator oldcomputerguy]
Hello - Merrill Lynch holds a 401K which is invested in a Vanguard 500 index. They sold this fund and bought a CIT - collective investment trust which is supposed to mimic the prior fund. ML did this without disclosing to company participants. The CIT did not pay a quarterly dividend (even though they claim to have reinvested the funds? - what? I have zero confidence in ML at this point - they can provide no prospectus, holdings info, nor performance info on this new CIT. Perhaps I just don't have confidence because I was unaware of CITs. One reference I read likened them to Hedge funds! Please help talk me off the cliff before I pull everything out of ML.
Hello - Merrill Lynch holds a 401K which is invested in a Vanguard 500 index. They sold this fund and bought a CIT - collective investment trust which is supposed to mimic the prior fund. ML did this without disclosing to company participants. The CIT did not pay a quarterly dividend (even though they claim to have reinvested the funds? - what? I have zero confidence in ML at this point - they can provide no prospectus, holdings info, nor performance info on this new CIT. Perhaps I just don't have confidence because I was unaware of CITs. One reference I read likened them to Hedge funds! Please help talk me off the cliff before I pull everything out of ML.
Statistics: Posted by miltonmom — Fri Jan 10, 2025 1:10 pm — Replies 5 — Views 146