Thought it might be interesting to have a survey to guage what % of your funds held by MF Global (on 31-Oct-11) had not yet been returned to you four months later (As of 29-Feb-12).
No funds have been returned. Only actual positions were transferred. No excess funds have been transferred, so the question is not specified correctly.
Open positions plus some funds to cover margin requirements were transferred to other brokers plus a percentage of the uninvested funds per October 31 totaling in my case to more than 70%. I am now hoping to get the rest one day. Felix
Don't count on getting the rest one day. It will be diminished by greedy lawyers before any money from the excess is ever returned. At $700+ per hour plus for one of the lawyers, the rest of the group in charge of suing MF Global will lose at least half that out of transaction charges, and will never return 100% of the excess.
Another story today, over 80% with this chunk it looks like. Should edge higher but not much. http://finance.yahoo.com/news/mf-global-customers-may-see-174305908.html
Weighted average after nine post replies is 52% lost, which is a little higher than I had expected. For some reason, I was under the impression that US customers had received back close to 82% already (Is this true?), and had assumed similar numbers for non-US customers... But it seems there are major inconsistencies depending on which region you are located in...I spoke to a UK based (ex-)customer that hadn't received a single penny back yet, though he's still hopeful... As an aside, how many of MF Global's management are behind bars at this stage?
The investors need to sue this bastard! Don't anybody have any cojones anymore? Get the absolute meanest and tenacious lawyers you can find and punish this bastard where it hurts the most, in his wallet!!
Whatever the amount that INNOCENT clients have sadly lost in the MF mess perhaps the real question is the amount of money both New York and Chicago will lose over the next 24 months. Same for London. Many investors are watching with their mouths wide open as the US government, the regulators and the big US banks and other financial firms crap all over the critical concept of TRUST. Without that, or a lack of it there is bascially nothing. Right now as I write this post countries like Singapore are planning, and planning hard, to attract the BILLIONS of floating cash that easily moves from country to country seeking the all-important TRUST. Singapore is also unlikely to freeze your money just because your name happens to be Khan or Aziz... What's that saying about Wall Street having a graveyard at its end? Well, can I advise many of the US firms to buy their tombstones now when prices are cheap as demand over supply is going to create a bullmarket in them over the the next 5 years.