Surrended endowments this week. Guess how much I got?

pmcx9

Norwich Union Endowments

Started Nov'92

£54pm 50% with profits/50% units

Started another Nov'93

£35pm 100% units


Surrended this week. Guess how much I got?
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£14,844

What a shocking investment. Anyway now to spunk it on wine, women and song.

Gorgeous_George

A cracking return of -1.65% (that's minus).

GG

John_G66

pmcx9 wrote: »

Norwich Union Endowments

Started Nov'92

£54pm 50% with profits/50% units

Started another Nov'93

£35pm 100% units


Surrended this week. Guess how much I got?
.
.
.
.
.
.
.
.
.
.
.
.
.
.
£14,844

What a shocking investment. Anyway now to spunk it on wine, women and song.

Then Waste What You Have Left !! :beer: :rotfl:

dunstonh

Cost of life cover and possibly CI. Bad time to surrender (at the trough of a crash) and just a few days before a special bonus was being paid.

Product is obsolete but timing certainly didnt help.

baby_boomer

The FTSE 100 index is only up 35% over the last 15 years back to November 1993.

I suppose NU could have taken that in costs & life cover.

But what did they do with the dividends ?

dunstonh still rates the NU WP fund. It has been returning 10% pa to his clients since 2003. I did wonder at the time if this was at the expense of anyone else.

dunstonh

dunstonh still rates the NU WP fund. It has been returning 10% pa to his clients since 2003. I did wonder at the time if this was at the expense of anyone else.

Its been good on more recent business. Perhaps not so good on legacy. It really depends on which WP fund its in. Those portfolios have fallen back to providing 8% p.a. now. Although a lot of that would be wiped out if they cashed in due to the MVR. However, there is no plan to cash in. Doing so now would be daft. 12 months ago or maybe 12 months (and one week) from now. However, this is picking a particular bad time.

pmcx9

@dunstonh unfortunately my endowments did not qualify for the windfall bonus. Only 100% WP's qualify. Also "trough of a crash" is a matter of opinion. In a years time I might appear to be a wise man. Thing is I wont care as I will have crashed my sports car, pickled my liver, or gone out with a bang by then!

McKneff

are you going to squander the rest.

enjoy...... you cant change it so enjoy.................

pmcx9

i was flicking through some old posts today after reading that the bank interest rate is 0.5% and quantitive easing is going ahead and noticed this thread from myself.

Dunstonh is a regular poster and gives very reasoned advice and I welcome his contributions and others from other IFA's on here. However everyone has an opinion and thats all it is.....opinion.

With the benefit of hindsight it is clear that dunstonh could regret this statement in years to come "Bad time to surrender (at the trough of a crash)"

If the trough of the crash was back in November 2008 then...............

Ah...what do i know! Indeed, what do i care. The wines good, the cars fast, and the women are beautiful!

dunstonh

With the benefit of hindsight it is clear that dunstonh could regret this statement in years to come "Bad time to surrender (at the trough of a crash)"

Could do but similar statements were made in the last 44% crash. The 5 years that followed that saw gains every year that wiped out the crash and turned in profits that beat cash before we hit this one.

I dont think anyone (who is honest) saw this one happening on the scale it did and at the speed it did. Trying to predict the unpredictable is always fraught with issues. Even the biggest an most successful investors thought the bottom was hit last year and that 2009 would be a growth year on the markets. It still could be. Who knows?