Mi-Plan Enhanced Income Fund

This Financial Services business invested in the Taxi industry (Bridge Taxi Finance) on behalf of investors/clients within their Enhanced Income Fund without disclosing this directly to their clients in their Fact Sheet (Minimum Disclosure Document). They made this investment after the SA Taxi woes were so well known in South Africa, which they could have learned from, and as publicised by Transaction Capital, a listed company on the JSE. They have now reserved 8.8% of clients investments of which amount 33% has been written-off investors' statements. Very likely more losses to come. Pity the investors I say!