Friday, Dec 21, 2007
Propert y fund freezes withdrawals.
BBC: Downturn hits Friends investors
More gloom in the property sector as withdrawals are frozen. Otherwise the fund would be forced to sell properties which would make the situation far worse.
Its a very bad omen though.
Posted by doomberger @ 08:17 AM (215 views) Add Comment
1 Comment
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1. Lloyd said...
To all those investors who are being prevented from withdrawing their funds before the collapse (like the sensible rational Norther Rock depositers), will the goverment now Guarantee that they fund value will also be secure. After the collapse in the value in six monhs will Friends be held responsible for any losses incured? Surely they should be as it is their funds and they should not be prevented from takeing it out befre they lose the lot. Where does the law stand. Where is the FSA?? I'd just like to say Equitable remember the losses!