skandia life. brandeaux suspened

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  • I, like many, have my life savings in the Student Accomodation Fund.
    I, also like many, am not totally conversant with the financial markets, i.e. savings & investments.
    However, this particular investment was recommended (I wouldn't say 'vigorously', but certainly 'highly') by my IFA.
    I, like many, await further developments with guarded optimism, as, being a retiree & dependent on the income from this investment, the direction of our future depends on the outcome.
  • SuperMum2008
    SuperMum2008 Posts: 673 Forumite
    All holders of the Brandeaux Student Accomodation Fund will now automatically be transferred to a new share class (as more than 75% of shareholders pro-actiely instructed the transfer of their shares, Brandeaux now have the ability to do this automatically with the remaining 25% of shareholders). The new share class is the same price as the old. There is a six month redemption period, but at least you can get your money out in 6 months time if you submit a written request.

    I second opinions above though that the fund continues to show positive returns, and after the recent turbulence, any fund that at least holds its own cannot be knocked.

    It's very easy to say nothing when funds are continuing to deliver, and then the moment there is a worldwide slump to blame your IFA! NO-one has a crystal ball, but you should not be invested in this fund at all unless you are an experienced investor and if it is a part of a much wider investment strategy. I would also question why you would put ALL your life savings in one fund? Surely a spread of risk, asset and time restrictions is far more sensible - not putting all your eggs in one basket? Might be worth seeking alternative advice, getting out some of your share of this fund and spreading elsewhere.
    Feel free to thank me, it makes my toes tingle and my ears go warm :T
  • It's now September, quickly approaching one year since they froze redemptions.

    When is this company going to offer redemptions again? I'm talking about the kind where people can actually get their money back, not a 'put in your request, and we'll see if we can do it in 6 months' type of redemption request.

    And doesn't it bother anyone that they keep trying to raise money for new funds while putting off all their redemption requests? If they had shareholders with muscle (institutional money), they would have been forced to shut down months ago.

    Something's fishy here...
  • They are raising more funds so that more people can cash out I guess but apart from that it makes more sense to buy with lower property prices then it was a couple years ago.

    The request thing is a queue system sounds like. Property is not a very liquid investment, thats been a problem for speculators regardless of the company
  • They are raising more funds so that more people can cash out I guess

    Isn't this exactly how Madoff ran his fund?
  • And the government debt also, they pay the interest off by selling more debt. If he had gone into government he'd have been promoted several times by now, great idea but wrong place
  • Magooorobino
    Magooorobino Posts: 11 Forumite
    edited 19 December 2016 at 3:04PM
    dunstonh wrote: »
    You are a bit new to this game but have gone into an experienced investor product? Talk about diving in at the deep end of a shark infested pool with a blindfold on and your hands tied behind your back.



    You are in an illiquid risk based investment. You are now suffering the consequences of that.



    They dont have the money to pay redemptions. Not unusual in bad times but your money is effectively tied up until they have the money.

    I was from 30th July until 30th November. The published off-season rental for this 3 acre spralling vila with 25 staff is $10,000 per NIGHT!!
  • Magooorobino
    Magooorobino Posts: 11 Forumite
    edited 19 December 2016 at 4:35PM
    There is also Miss Brandeaux describes herself as a Rental Tenent and lives in Tax Exile in Geneva and employs her Domestic Staff using a Jersey Registered Company so that they have no protection from the UK Employment Law. rest assured your money is safe!
  • Kay Brandeaux Bullying aggressive. Justice Jack Queens Bench Judgement. It is significant that Brandeaux has had five human resourse managers in 2 and a half years, and 70% of staff stay less than 3 years. In her witness statement Ms Letchford was highly critical of the Management Style of Ms Brandeaux and Mr Boyland. She describes Ms Brandeaux as bullying and aggressive with a lack of empathy for her employees. She said that while critism might be justified the language and ferocity of delivery were not. Ms Brandeaux generated a climate of fear amongst her staff. I ACCEPT Ms LETCHFORDS EVIDENCE. The Hon Justice Jack London High Court Judgement Brandeaux Advisers UK Limited & Ors V Chadwick
  • mr_fishbulb
    mr_fishbulb Posts: 5,224
    First Anniversary Combo Breaker
    Forumite
    Errrrrrrr, what is going on? I'm confused.
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