It is merely a lesson against the folly of trend following Percy
"Former ANZ chief executive John McFarlane launched the fund in 2006, at the peak of the boom, with high hopes that its plans to invest in small to medium-sized companies in Australia and New Zealand would pay handsome dividends."
"However, many of the companies in which it invested wilted when the global financial crisis struck two years later."
Jumping on a bandwagon normally ends in tears in the end. But as the article said, the loss is not material to an entity the size of the ANZ. Of course if it had been Heartland in this hot seat, such a venture might have finished them!
SNOOPY