€70K investmet in Friends First FA Global Investment Fund, what guarantee?

A

ancuisle

Guest
Hi Guys,

First post!:) I have a policy with Friends First FA Global Investment Fund which matures on 5 Dec 2010. Current value is aprox. €55K if I withdraw funds now. The early withdrawal penalty is aprox. €1K so if I hold off until after 5 Dec I don't pay the penalty. I am a bit worried, hence this post. I have some questions:

Is this policy covered by a guarantee? if so who?
I'm really thinking of bailing now, what's your advice?

Thanks!
 

paddyd

Frequent Poster
Messages
486
someone with more knowledge may be able to confirm this, but I believe that the institution in question must always hold the money you have invested in the policies. Unlike with shares or deposits, if its an investment policy (similar to a life assurance policy) they can't go and invest that money themselves for their own gain. Therefore the money is always accessible (and technically safe?), with the exception of course of the fund itself dropping in value

?
 

farmerette

Frequent Poster
Messages
177
someone with more knowledge may be able to confirm this, but I believe that the institution in question must always hold the money you have invested in the policies. Unlike with shares or deposits, if its an investment policy (similar to a life assurance policy) they can't go and invest that money themselves for their own gain. Therefore the money is always accessible (and technically safe?), with the exception of course of the fund itself dropping in value

?
presumabley the fund is valued in euros and since it was purchased in ireland , were we to leave the eurozone , presumabley it would assume a new currency value
 
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