Need real advice ref investment

Estancia

Can anyone help? I am sick with worry. Last year we invested 100K with AXA and thought the money was safe. This morning I have had a statement and we have lost 30K. With things the way they are at the moment I didnt expect to make on the investment but I didnt expect to lose such a huge amount either. I know there are risks, but I dont know anything about the momey market and took the advice of the AXA policy guy, he said the risks were minimal and the policy should do well.

I cant get hold of him at the moment, he isnt answering phone calls or emails, and we are curently detcatched in the Falklands so its pretty difficult trying to get answers from him as to what he is doing to ensure we dont loose the whole damn lot.

Anyway, I need to know, should we pay the penalty and cut our loses and take the money out of the policy? or leave it where it is and hope for the best? I think we would be hit quite heavily for taking the money out, its only been in a year of a 5 year plan.

Any advice would be most welcome, I really dont have anywhere else to turn with this.

Thank You.

dunstonh

I need to know, should we pay the penalty and cut our loses

No need to pay any penalty. AXA's bond has cash funds, fixed interest funds, property and equity funds available. There are also protected funds as well.

I think we would be hit quite heavily for taking the money out, its only been in a year of a 5 year plan.

You would suffer around 9% from memory if you drew it out.

Any advice would be most welcome, I really dont have anywhere else to turn with this.

No advice is given here. The product you have is a regulated financial services product and there is no authorisation to give advice on that on the forums. Just discussion and comment. You saw the hassle Martin got recently on a non-regulated area. Can you imagine what it would be like on a regulated area?

You have more or less got to the point now where you may as well see it through. Events like this occur on average once every 7 years. That is why you invest for the long term and not the short term.

thrupence

Estancia wrote: »

Can anyone help? I am sick with worry. Last year we invested 100K with AXA and thought the money was safe. This morning I have had a statement and we have lost 30K. With things the way they are at the moment I didnt expect to make on the investment but I didnt expect to lose such a huge amount either. I know there are risks, but I dont know anything about the momey market and took the advice of the AXA policy guy, he said the risks were minimal and the policy should do well.

I cant get hold of him at the moment, he isnt answering phone calls or emails, and we are curently detcatched in the Falklands so its pretty difficult trying to get answers from him as to what he is doing to ensure we dont loose the whole damn lot.

Anyway, I need to know, should we pay the penalty and cut our loses and take the money out of the policy? or leave it where it is and hope for the best? I think we would be hit quite heavily for taking the money out, its only been in a year of a 5 year plan.

Any advice would be most welcome, I really dont have anywhere else to turn with this.

Thank You.

You'd really need to specify just exactly what you're invested in, but most people who are invested in stock based funds will have experienced 30% losses or worse over the past year.

It's rarely a good idea just to bail out and turn your paper losses in actual losses, but again you'd need to specify exactly what you're invested in and people can make a better assessment.