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Unfortunately, hubby has been a monthly contributor to the Strong Growth mutual fund for the past few years-in the form of a traditional IRA. This specific fund was 1 of 4 Strong funds allowing Canary Capital to conduct transactions from 11/26/02--7/3/03. He received a letter from Strong Investments which states a commitment to make appropriate reimbursement if investigation determines that Canary transactions adversely affected investors in these 4 funds.

We are not "big-money" investors, but this news has been quite devastating to us...currently his IRA market value is only approximately $900 more than actual-out-of-pocket $$ contributed to the Strong Growth Fund over the past 5 years...not a very good return, considering the years that he has faithfully contributed $75/month to his IRA.

My question...if hubby liquidates his shares & transfers them to another broker, would Strong Investments still be liable for reimbursement to him? My feeling is YES...since hubby was Growth Fund shareholder during time of Canary transactions...but what is the real answer?

Has anyone similiarly involved liquidated their shares & transferred them to a discount broker for self-directed management? I'm hesitantly leaning towards this alternative, since I manage my own small current $3000-value retirement...but not quite convinced that I can successfully manage hubby's slightly larger value IRA, since it does take time & effort that is not always easily available, due to full-time employment & managing healthcare of our elderly parents.

Thanks in advance to all who respond...all input most welcome...since I feel as if "I'm not seeing the forest for the trees", etc.


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No. of Recommendations: 5
You probably lost $.01 per $100 invested because some other fund customer was allowed the odd after hours trade.

But, over time, I bet you lost $50 per $100 invested by choosing a high fee mutual fund company instead of a low fee one such as Vanguard.

The recent trading fiasco is a rounding error relative to all the $ Strong has been sucking out of your account over the years.


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