China QDII Fund Goes Kaboooom!

So much for the hype of China's QDII fund being the next big thing to the world of equity. It seems that most of us are unaware of the liquidation clause that protects 50% of the initial invest. Please read news summary below:

"Minsheng Bank's (600016) QDII fund has been forced to liquidate after its NAV fell more than 50%. Minsheng sold 100 mn shs for the QDII fund at Rmb1/share in Oct 2007. Under the agreement, the fund was to be liquidated when its assets fell below 50% of their initial value or rose more than 18%."