7.25% for 2 years??

sstepheneedmonds

Hi all, can it be true, Amicus Single Investment Plan is offering 7.25%for a 2year investment.

It seems a better investment than a ISA.

What are your thoughts please.

jimjames

Without looking I can say it almost certainly will involve the possibility of you losing all your money and has no FSCS protection. If you're prepared for that why aren't you using a S&S ISA instead?

PeacefulWaters

It's always a first time poster isn't it.

dunstonh

Amicus Single Investment Plan is offering 7.25%for a 2year investment.

Yes it can be true. There are plenty of 100% loss potential unregulated investments out there offering high rates.

Amicus Investment Ltd
Trust Company Complex
Ajeltake Road
Ajeltake Island, Majuro
Marshall Islands

Not regulated by the FCA. No FSCS protection.

It seems a better investment than a ISA.

Not for me it doesnt. A stocks and shares ISA using regulated investments is much more desirable.

HappyHarry

sstepheneedmonds wrote: »

Hi all, can it be true, Amicus Single Investment Plan is offering 7.25%for a 2year investment.

It seems a better investment than a ISA.

What are your thoughts please.

Have a read through the Q&A on their site.

They are a company based in the Marshall Islands, with a postal address in Austria who are offering unrealistic investment returns where your funds are not protected by the FSCS or anybody else.

The company claims to invest your funds in a mix of high risk loans (borrower pays equivalent of 50% pa) and equities, and the company takes a 12% pa ongoing fee.

The guarantee is offered by a company in the same group, and therefore is no guarantee at all.


Thoughts?

In what way could this be considered better than a Stocks & Shares ISA?

Who would you complain to if you never saw your money again?

AnotherJoe

dunstonh wrote: »

Amicus Investment Ltd
Trust Company Complex
Ajeltake Road
Ajeltake Island, Majuro
Marshall Islands

I think you'd need to take a site visit to check out their offices first.

TCA

Out of interest I used their chat facility to ask a few questions. Your dosh would be invested in consumer loans in Scandinavia, mostly Finland apparently. 5% default rate.

george4064

My thoughts are that it sounds dodgy and I wouldn't touch it with a bargepole.

cashbackproblems

You can get a high yield bond fund paying 6/7% on HL. And this one i invest in is on their wealth 150 so has been through their checks and done well for me

mapk

AnotherJoe wrote: »

I think you'd need to take a site visit to check out their offices first.

I gave them a call and they fly potential customers over in their Lear - via Fiji

jamesd

sstepheneedmonds wrote: »

Hi all, can it be true, Amicus Single Investment Plan is offering 7.25%for a 2year investment.

It seems a better investment than a ISA.

What are your thoughts please.

Not worth your time and money. You can expect more than 10% taxable after bad debt allowance from some UK peer too peer lending platforms like Ablrate and MoneyThing, both of which have full approval from the FCA.

Neither yet offers an ISA wrapper but having full FCA approval is one of the requirements so either could now seek such approval from HMRC.

Until then you can do what I did: put money into a flexible ISA then take it out again. Before the end of the year pay it back in as replacement subscription money which doesn't count against your annual ISA limit. This only applies to ISAs with that flexible ISA feature.

There are also Eurozone-based peer to peer platforms which offer higher rates for lending to Finnish consumers.