Guaranteed - 45% Gross Over 3 Years-Muldowney Group
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Re: Guaranteed - 45% Gross Over 3 Years
mugsgame: It is a 2 page document entitled "deed of undertaking". it describes the parties in the agreement,then the amount to be invested, and the general terms which are basically that the money shall be invested in local and international property with professional managers overseeing the investment, the term, the 15% gaurantee, description of a quaterly dividend paid into the fund,(which I presume builds up to the 15%) then a section saying that a full description of the properties invested in will be available within the first 3 months of investing, the tax implications. a get out clause is next for each party which is available every 12 months, a declaration that both parties agree that the document is law abiding and then a section for signatures.
mugsgame: It is a 2 page document entitled "deed of undertaking". it describes the parties in the agreement,then the amount to be invested, and the general terms which are basically that the money shall be invested in local and international property with professional managers overseeing the investment, the term, the 15% gaurantee, description of a quaterly dividend paid into the fund,(which I presume builds up to the 15%) then a section saying that a full description of the properties invested in will be available within the first 3 months of investing, the tax implications. a get out clause is next for each party which is available every 12 months, a declaration that both parties agree that the document is law abiding and then a section for signatures.
G
gonk
Guest
Re: Guaranteed - 45% Gross Over 3 Years
You're missing the point. If Muldowney's can genuinely guarantee a capital secure 45% return over 3 years, there would be absolutely no need to raise money from the public in the first place. They could get all the money they wanted from the banks and retain all the profits for themselves.
If, on the other hand, either the 45% return or the security of capital is not 100% certain, the advertisement is misleading.
You're missing the point. If Muldowney's can genuinely guarantee a capital secure 45% return over 3 years, there would be absolutely no need to raise money from the public in the first place. They could get all the money they wanted from the banks and retain all the profits for themselves.
If, on the other hand, either the 45% return or the security of capital is not 100% certain, the advertisement is misleading.
Re: Guaranteed - 45% Gross Over 3 Years
True, Gonk. One could argue that they will get considerable profits anyway and are pushing themselves as an exceptional investment company, That however is perhaps being naive. i just dont know. have you had any experience or knowledge BCP asset management?
True, Gonk. One could argue that they will get considerable profits anyway and are pushing themselves as an exceptional investment company, That however is perhaps being naive. i just dont know. have you had any experience or knowledge BCP asset management?
Re: Guaranteed - 45% Gross Over 3 Years
Mugsgame I missed the point of your post,Quote" the company gaurantees a dividend of 15% per annum on funds invested over the entire term of the investment. For example , investors will receive E45000 on an investment of E100000 over the 36 month term" end quote
Mugsgame I missed the point of your post,Quote" the company gaurantees a dividend of 15% per annum on funds invested over the entire term of the investment. For example , investors will receive E45000 on an investment of E100000 over the 36 month term" end quote
Re: Guaranteed - 45% Gross Over 3 Years
Mugsgame: no it doesn't, the example there fore is flawed and the wording is such that it does not gaurantee your money back in the deed of undertaking. This is a separate document to the "prospectus" which does "say" you will get your money back. They are regarding the deed of undetaking as the legal end of the deal. And the prospectus is not personalised, the deed of under taking obviously has to be.
Mugsgame: no it doesn't, the example there fore is flawed and the wording is such that it does not gaurantee your money back in the deed of undertaking. This is a separate document to the "prospectus" which does "say" you will get your money back. They are regarding the deed of undetaking as the legal end of the deal. And the prospectus is not personalised, the deed of under taking obviously has to be.
Re: Guaranteed - 45% Gross Over 3 Years
So they entice you with an (apparently) misleading advertisement and prospectus?
If the undertaking is the only legally binding document, then I would imagine (not being a solicitor) that this is all that really matters.
So taking them to Court if a 45% return doesn't materialise is probably not going to go in the investor's favour if the legally binding agreement contains enough in the way of terms and conditions.
I would also be interested what fees and charges (if any) apply, especially in the case of early encashment, even more so since the ‘guaranteed return’ is ‘gross’.
What is the tax situation with unregulated property funds? Are they subject to 23%? Or are they taxed at the individual’s marginal rate?
In short, given the fact that:
(a) there is a paucity of information in the public domain;
(b)the contents of the prospectus are confidential;
(c)there appear to be serious conflicts in the information contained in the advertisements/prospectus and the legally binding agreement;
(d)this is an unregulated product
I would urge anyone considering this product to take independent professional advice (which could encompass investment, taxation and legal aspects).
Caveat emptor.
So they entice you with an (apparently) misleading advertisement and prospectus?
If the undertaking is the only legally binding document, then I would imagine (not being a solicitor) that this is all that really matters.
So taking them to Court if a 45% return doesn't materialise is probably not going to go in the investor's favour if the legally binding agreement contains enough in the way of terms and conditions.
I would also be interested what fees and charges (if any) apply, especially in the case of early encashment, even more so since the ‘guaranteed return’ is ‘gross’.
What is the tax situation with unregulated property funds? Are they subject to 23%? Or are they taxed at the individual’s marginal rate?
In short, given the fact that:
(a) there is a paucity of information in the public domain;
(b)the contents of the prospectus are confidential;
(c)there appear to be serious conflicts in the information contained in the advertisements/prospectus and the legally binding agreement;
(d)this is an unregulated product
I would urge anyone considering this product to take independent professional advice (which could encompass investment, taxation and legal aspects).
Caveat emptor.
Re: Guaranteed - 45% Gross Over 3 Years
Says who? Seriously, who has confirmed that CGT applies and not (for example) income tax? Have they got verifiable opinion from a qualified tax expert on this?
Re: Guaranteed - 45% Gross Over 3 Years
This offer is too good to be true - otherwise I'd be off now to remortgage the house.
I don't know about the financial regulations but based on the confusion here on AAM with experienced investors there has to be something misleading about the ad which should be reported to the relevant authorities and so prevent people getting duped.
Moderator note
Question on compunding moved to this thread-please keep this one on topic, i.e. the product being offered.
This offer is too good to be true - otherwise I'd be off now to remortgage the house.
I don't know about the financial regulations but based on the confusion here on AAM with experienced investors there has to be something misleading about the ad which should be reported to the relevant authorities and so prevent people getting duped.
Moderator note
Question on compunding moved to this thread-please keep this one on topic, i.e. the product being offered.
Last edited by a moderator:
Re: Guaranteed - 45% Gross Over 3 Years
I will admit when I read the ad I was very impressed but this thread has really asked some very interesting questions. I am amazed (1) nobody has responded stating any past experience, good or bad. The website states ''over the years our clients have benefitted from an excellent service delivered by a combined team of professionals with several years experience.'' Any of these clients read AAM? (2) With over 2,500 hits on this thread surely somebody from the Company has seen it. Nobody has responded to any of the questions which are quite legimitate. Who wants to invest a minimum of €25,000 without all details spelt out? Guaranteed 45% over 3 years is a massive statement to make nowadays.
I will admit when I read the ad I was very impressed but this thread has really asked some very interesting questions. I am amazed (1) nobody has responded stating any past experience, good or bad. The website states ''over the years our clients have benefitted from an excellent service delivered by a combined team of professionals with several years experience.'' Any of these clients read AAM? (2) With over 2,500 hits on this thread surely somebody from the Company has seen it. Nobody has responded to any of the questions which are quite legimitate. Who wants to invest a minimum of €25,000 without all details spelt out? Guaranteed 45% over 3 years is a massive statement to make nowadays.
Re: Guaranteed - 45% Gross Over 3 Years
Another possible explanation might be that this claim (that the investment is almost fully subscribed) is not actually true but is part of a hard/pressure selling technique?
Re: Guaranteed - 45% Gross Over 3 Years
Oldtimer: Agreed. I originally posted to look for information. I have had plenty of advice but no one seems to have dealt with them. If no one has, can anyone advise where to check these people out? Is what they are advertising legal ?
Oldtimer: Agreed. I originally posted to look for information. I have had plenty of advice but no one seems to have dealt with them. If no one has, can anyone advise where to check these people out? Is what they are advertising legal ?
K
KalEl
Guest
Re: Guaranteed - 45% Gross Over 3 Years
I know this individual personally and have made him aware of the thread.
Beyond that it's not appropriate for me to comment on the merits of this offer.
I know this individual personally and have made him aware of the thread.
Beyond that it's not appropriate for me to comment on the merits of this offer.
