Scottish Widows Property Fund

Thomas_Crown

I received a letter this morning regarding the Scottish Widows Life Property Fund. This is a 'bricks & mortar' property fund.

The letter says that S.W. have introduced a 180 day delay period for requests to switch out of or withdraw money from the property fund.

Aegis

Understandable really given the current financial climate!

Stompa

It's been fairly extensively reported in the media, e.g.

http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article3234533.ece

http://www.guardian.co.uk/business/2008/jan/22/housingmarket.property

http://www.independent.co.uk/news/business/news/scottish-widows-halts-property-fund-transfers-771737.html

jon3001

How much is something worth if you can't sell it?

Aegis

jon3001 wrote: »

How much is something worth if you can't sell it?

Current value or future value?

purch

Current value or future value?

Last months value would be nice !!!!

dunstonh

If you arent out of property now its too late. Indeed, it now looks like we are close to the point where going back in is looking like the right thing to do. Inflows are picking up, overseas investors are coming back and some property funds are predicting an 8% return this year.

The worst appears to have past. What I find funny is the media coverage is reporting this as if its something new yet its been happening fo the last 8 months.

KITCHEN1_2

Dunst

"What I find funny is the media coverage is reporting this as if its something new yet its been happening fo the last 8 months."

One thing I have learned over the years is by the time the media climb onto the bandwagon it's no longer news that 'outsiders' will profit from.
There's an old adage in trading about buy the rumour sell the news and it exists for a very good reason

Why do you think Buffett says be greedy when others are fearful and vice a versa bearing in mind that these emotions tend to get fuelled through the media....LOL ...I like nothing more than blind panic as I know it's about the only license to print money that you can get.

Wurz

Yup, got the same letter this morning. Thank god I cashed in last Monday "only" lost about £8.2k on a £100k bond. That's after 4 years of poor performance but before the bond dropped even more over the past few days. Have you noticed that the Web Site for Scottish Widows is now saying "Temporarily Unavailable" erm, is Scottish Widows about to be the next Northern Rock?

dunstonh

Wurz, you need to stop blaming Scot Widows for this. It is not Scottish Widows who have lost you money. It is the investment funds you used that have lost money.

Thomas_Crown

Wurz wrote: »

Yup, got the same letter this morning. Thank god I cashed in last Monday "only" lost about £8.2k on a £100k bond. That's after 4 years of poor performance but before the bond dropped even more over the past few days. Have you noticed that the Web Site for Scottish Widows is now saying "Temporarily Unavailable" erm, is Scottish Widows about to be the next Northern Rock?

Wurz, this thread is about the S.W. Life Property Fund and this is one option within the Flexible Options Bond. You obviously had money invested in other funds within the bond because your comment about ''4 years of poor performance'' is totally incorrect.

The above ''bricks & mortar'' property fund lost some value in late July 2007 but the most dramatic falls were in December 2007. The figures below are from the S.W. website.

Scottish Widows Life Property Fund:-

These figures show the gains/losses made over the last 5 years.

Q4. 2002-2003 7.4%

Q4. 2003-2004 16.6%

Q4.2004-2005 16.7%

Q4. 2005-2006 10.6%

Q4. 2006-2007 -7.6%


The above fund has not lost money during the last few days! It has gained about 4 pence per unit over the last month. Fingers crossed that it doesn't start to drop again.

Anyone out there got a crystal ball? :laugh: