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  1. #1
    DF Super Moderator {{909}}'s Avatar
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    Info FTSE100. whats the worst that could happen?

    with all the news of the FTSE crashing a few months ago and the threat of it getting worse before it gets better, whats the worst that could happen to people that are investing in the FTSE100?

    A few years ago I shifted about 15k in family assets from ISA's (Which were making absolutely nothing) to 2 accounts that worked around the FTSE100, admittedly I have no fucking idea how any of the shit worked but I spoke with my bank manager and through him I settled with 10k in an account that is locked for 6 years, with interest capped at 17%, I also paid a fee that paid some professionals to shift my shares between different companies etc, or something along those lines. This is a no loss sort of account, at the end of the 6 years if the market and the investors have made no profits, I get my investment back (minus the fees i presume), if it does well I get the interest at a maximum of 17%. It may have been more than 17% actually, cant remember now and all the paper work is back in the UK.

    the other 5k was put into a less secure account which worked in a similar way but without the safety net of money back, as the benefit of potentially higher interest rates.

    After the first year I got a balance on the 5k account, which got me about 10% which I was pleased with really, much more than the ISAs was making combined, for some reason I never got the second years statement and after asking the bank I was told I would receive one, I'm not sure if it arrived as I left the country a few months later and thinking about it, I am actually past my third year now.
    The other account is apparently sealed until the day the 6 years are up so I cant find out how its doing.

    So, after all that bollocks, what exactly is the worst that could happen? I can withdraw the 5k and I'll probably lose out on 400 quid or so worth of fees, or just leave it and see what happens.

  2. #2
    DF VIP Member hxbro's Avatar
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    Default Re: FTSE100. whats the worst that could happen?

    If you have no requirement to take the money out I'd leave it, markets will recover, the ftse went to 4800 earlier this year, and recently back up to 5700 (and back down again), next year is apparently going to be a bull year so I'd expect increases.

    I would contact your bank and find out about the accounts, I would expect some sort of statement annually for both accounts, I'm not sure how they can deny information on how it's performing for 6 years, I'm sure that would be illegal imho.

    (I'm not a financial advisor, seek professional advice at all times with regards to your investments)
    Download my latest breaks and electro mixes or listen to Sellout Breaks FM

  3. #3
    DF Super Moderator {{909}}'s Avatar
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    Default Re: FTSE100. whats the worst that could happen?

    Ah, cool hxbro, that's what I thought would be the case. I don't have any requirements for the cash, I wasn't sure just how bad it could get.

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