Anybody paying attention to Unit trust 50 Million

[trinimad]

Anybody aware of 50 Million lawsuit with Unit Trust ????.......any news of Mass Withdrawls from that organiziation
I find its been very quiet.........concerned customer!!!

[Solachica]

I know people who were concerned last year.
Also, anyone noticed tht for past year+, for every quarter, the intrest paid keeps decreasing?

[vaio]

They case from the Turks/Caicos that they put an ad out and said that
"The Supreme Court also dismissed all claims the developers had brought against the UTC,"


The Unit Trust Corporation yesterday took out a full page advertisement to report that the Turks and Caicos Islands' Supreme Court has "ordered developers of the Dellis Cay property in the Turks and Caicos to freeze approximately $540 million (US$80 million) in assets to pay UTC's claims" and to assure unitholders that their money was safe.

http://www.trinidadexpress.com/news/UTC_wins_US_80m_Turks_Caicos_lawsuit-115397754.html

or is there another case?

[vaio]

I know people who were concerned last year.
Also, anyone noticed tht for past year+, for every quarter, the intrest paid keeps decreasing?

Interest in ALL financial institutions are decreasing. RBL offering .3% for $100k now so UTC ent no different.

[Solachica]

^ohho

[vaio]

i know a few ppl who done pull out their money from UTC though :s:

[Solachica]

If people pulling out their $$ from all over where they putting it? Under dey mattress again? :-/

[vaio]

If people pulling out their $$ from all over where they putting it? Under dey mattress again? :-/

or just leaving it in the bank were yuh know tht it insured under DIC up to $75,000

[Solachica]

So when yuh $$ reach over $75k is best to open a next account?

[vaio]

So when yuh $$ reach over $75k is best to open a next account?

in a next bank!

[BW]

preferably one in the states, or england

[vaio]

lol

[Solachica]

Me ent reach big like you BW to have accounts in US$ and £ :p

[trinimad]

i know a few ppl who done pull out their money from UTC though :s:



Yes under the mattress is the best place now as there is no such thing as paying interest anymore.......0.0003 percent on thousands of dollars is a waste of time.....especially when u can wake up one day and have an character like Dookaran say that they thinking of giving your money back in 20 to 30 years.......real madness!!!!!!!!!!!!!!!! Better chances of holding on to your money if its under the bed...from the responses so far does not seem that there were mass withdrawls as per the lawsuit thats pending......Very hard to trust anything associated with T&T these days VERY VERY HIGH LEVELS OF INCOMPETENCE IN THAT COUNTRY, MAY BE THE HIGHEST IN THE WORLD!!!

[Redman]

Yes under the mattress is the best place now as there is no such thing as paying interest anymore.......0.0003 percent on thousands of dollars is a waste of time.....especially when u can wake up one day and have an character like Dookaran say that they thinking of giving your money back in 20 to 30 years.......real madness!!!!!!!!!!!!!!!! Better chances of holding on to your money if its under the bed...from the responses so far does not seem that there were mass withdrawls as per the lawsuit thats pending......Very hard to trust anything associated with T&T these days VERY VERY HIGH LEVELS OF INCOMPETENCE IN THAT COUNTRY, MAY BE THE HIGHEST IN THE WORLD!!!

Stupid REALLY Stupid advice.

UTC is in the business of managing funds- a fund family. Like Templeton,Janus,Fidelity.

Each fund is an entity unto its own and has a charter of sorts that establishes mandatory paramaters within which the fund invest the money the public invests.

The rules on all the main funds either severely limit if not totally ban private investments
There are also limits on the size of any 1 investment within the fund.

So the lendings to CLICO and the above mentioned funding are private equity/financing.Similar to Investment Banking which is a SMALL business unit compared to the 1 and 2nd schemes.
Also the funds would be segregated from these types of investments


SO the issues raised thus far while making press are highly unlikely (as disclosed so far) to really have a material effect on the funds return much less the stability of UTC.

The UTC is the largest and the best managed funds in the country-bar NONE.


And no I dont work with or for the UTC -never have,and I have 1 small investment in the 1st scheme.




Later

[greall]

Gosh...people loose all common sense when money's concerned...

Leave the money in the financial system...no confidence in that and no number of 'national development programs' will work...

Stop running around scared all the time...

Greg

[Shayon]

You guys saw how Guardian Life was in a poor cash situation, had to receive equity financing to the tune of US $75 Million from the World Bank's International Finance Corp (IFC) and then started talking profits? Also following the same steps as GHL, Sagicor signed up for a USD 4100Million from the IFC. I wonder what's the World Bank's agenda.....?

[edyle]

Yes under the mattress is the best place now as there is no such thing as paying interest anymore.......0.0003 percent on thousands of dollars is a waste of time.....especially when u can wake up one day and have an character like Dookaran say that they thinking of giving your money back in 20 to 30 years.......real madness!!!!!!!!!!!!!!!! Better chances of holding on to your money if its under the bed...from the responses so far does not seem that there were mass withdrawls as per the lawsuit thats pending......Very hard to trust anything associated with T&T these days VERY VERY HIGH LEVELS OF INCOMPETENCE IN THAT COUNTRY, MAY BE THE HIGHEST IN THE WORLD!!!

paper is flammable; and so is mattress.
Buy Gold. Make some statues and clay them. Make a decorative chess set with hollow chess pieces loaded with gold in the core. Put up a fancy looking painting on a wall, and in the linings on the frame keep gold strips.

Forget diamonds if you can afford them; they burn in fire.

[Redman]

You guys saw how Guardian Life was in a poor cash situation, had to receive equity financing to the tune of US $75 Million from the World Bank's International Finance Corp (IFC) and then started talking profits? Also following the same steps as GHL, Sagicor signed up for a USD 4100Million from the IFC. I wonder what's the World Bank's agenda.....?

MAYBE-its a good time to borrow money -rates are low-and both companies ae cashing up to take a peice of CLICOs book of business-The IFCs injection has nothing to do with the bottom line-GHL and SFC have been cleaning house and getting back to basics-makes their stocks interesting I like GHL-I would be a buyer-if I could find the funds.



Later

[Shayon]

MAYBE-its a good time to borrow money -rates are low-and both companies ae cashing up to take a peice of CLICOs book of business-The IFCs injection has nothing to do with the bottom line-GHL and SFC have been cleaning house and getting back to basics-makes their stocks interesting I like GHL-I would be a buyer-if I could find the funds.



LaterI bought some GHL at $12.79..................

[gajie]

You guys saw how Guardian Life was in a poor cash situation, had to receive equity financing to the tune of US $75 Million from the World Bank's International Finance Corp (IFC) and then started talking profits? Also following the same steps as GHL, Sagicor signed up for a USD 4100Million from the IFC. I wonder what's the World Bank's agenda.....?

Y'all saw how NOBODY say Guardian or Sagicor in trouble, or running a Ponzi scheme? steups.

[greall]

I know people who were concerned last year.
Also, anyone noticed tht for past year+, for every quarter, the intrest paid keeps decreasing?

These are the real rates that they're paying out now...

Greg

[Solachica]

Wht are real rates greall?

[Redman]

Sola,
Real rates can be defined as the Interest rate you get from the bank or investment less inflation for the period.

So you place a Fixed Deposit for 1 year and the bank gives you 5% Inflation is 10%(The purchasing power of a dollar is being reduced by 10% per year). therefore your real rate is 5-10= -5%.
So in real terms you are losing 5% per year.

Sorry to depress you cuz while inflation is actually closer to 12% you cant get 5% in any bank.

Later

[Solachica]

Weyy sad state of things.

[Shayon]

Weyy sad state of things. I have an Annuity with Algico. The initial charges were a bit high, like ALL annuities from any company, only the first year. About 40 %, but their Guaranteed rate of interest 4.5% is actually beating all the other rates I'm getting from Unit Trust 2.8% or any where else.

[Redman]

I have an Annuity with Algico. The initial charges were a bit high, like ALL annuities from any company, only the first year. About 40 %, but their Guaranteed rate of interest 4.5% is actually beating all the other rates I'm getting from Unit Trust 2.8% or any where else.

You comparing apples to oranges
An annuity is as different from a money market fund as a year is different from a day.

To expect the same return is unrealistic

Later

[greall]

Sola,
Real rates can be defined as the Interest rate you get from the bank or investment less inflation for the period.

So you place a Fixed Deposit for 1 year and the bank gives you 5% Inflation is 10%(The purchasing power of a dollar is being reduced by 10% per year). therefore your real rate is 5-10= -5%.
So in real terms you are losing 5% per year.

Sorry to depress you cuz while inflation is actually closer to 12% you cant get 5% in any bank.

Later

Hmmm...that's about right...

Greg