₦airaland Forum

Hi. Please can you give me pointers on how to redeem the union trustees mixed fund investment? I've tried getting in touch with Capital Express Asset and Trust to no avail (I was directed to them by United Trustees)

emmasoft:
To start with, please note: if you invest in any mutual fund you did not actually invest in the funds manager’s firm.
e.g if you invest in Abacus money market fund, you did not invest in Investment One as a firm but rather it’s a collective fund (Abacus with the underlying assets- Tbills. You invested in
To be sure your funds are safe, we have the custodian which usually is a MDB to hold the funds
Then Trustees who make sure the fund managers sticks to the investment objectives and they always form part of the signatory to the funds account, hence you have FBN MMF/INVESTMENT ONE FINACIAL SERVICES for fbnquest mmf, United capital Trustees/Abacus money market funds for Abacus money market fund etc.
We have the regulators the almighty SEC to take care of compliancy and other government policies in that regard, plus others - Registrars (record keepers of unit holders), Auditors
So, if the fund managers goes down which is very rare, your funds is with the custodian and the Trustees is there to do the needful.
What the fund manager does is giving financial service which you pay for and to give financial advice for you to get best returns for your money following the objectives of the type of fund in question.
An example is the Union trustees mixed funds. There seems to be issues with the fund management since 2014. But the fund is intact cos the underlying assets are there. It’s just of recent a new fund manager is picking them up and they are starting where others stop. In fact I posted the notice of their AGM for year 2014 till 2019 on this thread recently.
The same thing with equities you buy on the NSE, if the stockbroking firm going down it has nothing to do with your equities they are safe with the cscs as the depository. All you need do is to go to another firm if your current firm goes down and you are good to go, your stocks are intact. You will notice even if your firm goes down you will still get dividends paid to your account indicating you are still a shareholder of the company you invested in.
However, if you invest in a mutual fund which is equity based, the risk is higher. You can actually lose your money. Capital, Interest or returns are not guaranteed in that case. If you notice currently most of equity-based funds are having negative yields because the stock market is down.
Also if you invest in a particular company listed or unlisted as a an investor, if the company goes under your money goes under as a shareholder, that is the risk involved. For example, just as there is nothing like Bank PHB, skye bank or Afribank so also the investors have lost all their money.
In conclusion, if you made investment in a company and the company goes down your money goes down with it as a shareholder in that company
But if you made investment through a company (Fund manager or stockbroking firm) your investment is safe even if the company goes down. I hope this help.

Redoil:
It seems that union trustees mixed fund have disappeard into thin air.
Though it has changed different mangers with the last manager being cdl asset.
As for sterling registrar, they have removed it from their website.
What can i do to get my money back
Ernie4life ur attention is needed here

Hi please I really need to redeem my union trustees mixed fund investment. How did you go about this?

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