Premier Low Risk fund

MONTI_2

Dear All,
How can a Royal Scandia Premier Low Risk Fund taken out in August 2002, stating a 0% exit penelty after 5 years, now in 2008, with no increase value, from the original sum invested, enforce a 14% MVA penalty reduction from our encashment request.

Monti

runciblespoon

I haven't a clue, but have a look at the terms and conditions.

Maybe it's something like '0% exit penalty after 5 years, but you must respond within N weeks or else we'll roll it over into another investment with a fixed term and exit penalties'. I haven't seen that for investments but this sort of thing happens for other products (like car insurance).

If you don't have a copy of the terms, ask them to send one to you.

Costa_Action

Monti
Unless the "14% MVA exit penalty" is clearly disclosed in the Premier Low Risk Fund "Offer Document" the fund can not (legally) apply any penalty to your enchasment request. See costa-action.co.uk