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Today, six months later, Friedrich and his investors are faced with a large pile of rubble. The fund (ISIN: LU0974225590), which was launched in 2013, is in liquidation, and investors are exposed to non-transparent processing: Anyone who sold their shares in mid-December would have received 90 percent of the sum as a special distribution a few days later – and would continue to keep the shares. On December 18th, the liquidator Deloitte announced the distribution, and two days later investors received 11 euros per share. Anyone who previously sold at the market price of 12 euros will be terribly annoyed. The fact that investors had no opportunity to anticipate the liquidator’s move raises questions.