ACE Index Hit by Massive Losses

VI89U(ACE) and VBIF(ACE) Take Unprecendented Losses on Volume Sniping

For SLReports.net

The Ancapistan Capital Exchange(ACE) Luminos Index took a major hit yesterday with massive plunges in share value in Verve Financial Services Income Long-term Unit Trust 2008-2009 (VI89U : ACE) and Verve Financial Services Financial & Business Services Index ETF (VFBIF : ACE).

VI89U(ACE) was set up to maximize income for its investors over the year that is exists. It became active as of July 1st of 2008 and will expire on June 30th of 2009. The focus is on using all capital gained in its IPO process and over its expenses to purchase stocks that have a record of paying the highest dividends for their cost. All dividends collected each month of the life of this trust (minus 3% of the dividend income to help cover management costs) are paid back out to the holders of each of the trust units.

VI89U(ACE)'s 30 day rolling share value (previous to yesterday's close) was L$34.90, with highs of L$48.00 and lows of L$11.00, and daily average volume (previous to yesterday's close) of a meager 9 shares a day. Yesterday saw 200 shares change hands, and VI89U(ACE) close with a share value of L$1.00.

VFBIF(ACE) was set up to essentially track the largest companies of the Financial & Business Services sector. As such this ETF is by definition designed to see roughly the same return as if an investor were to invest widely within most of the companies that make up the Financial & Business Services sector.

VFBIF(ACE)'s 30 day rolling share value(previous to yesterday's close) was L$28.84 with a measly daily average volume (previous to yesterday's cole) of a measly 3 shares traded per day, with share value highs of L$73.00 and lows of L$3.20. Yesterday saw 250 shares trade for a closing value of L$1.00.

The ACE Luminos Index has dropped over L$76.81 in the last month, prior to yesterday's massive losses, and will need a resurgence to rebound to it's original height of L$157.87.