# How Safe is Quinn Life Euro Freeway



## Privinv (1 Oct 2008)

Hi,
I have a decent sum invested in the above. The fund is down by 30%approx in the past year. How safe is Quinn (with the fall on Anglo Irish Bank shares, the net assets in the Quinn overall organisation have been reduced considerably as a result of the quantity of shares owned by Quinn, €1bn??). Also taking account of the decline in the economy, it may be having an impact on Quinn business.

I wonder how safe my money is, should I cut my looses now, or is the Quinn business sound, and should I sit it out. I have no need for the money right now, security is my concern. Any comments?


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## ClubMan (1 Oct 2008)

Privinv said:


> I wonder how safe my money is


Your money was never guaranteed. Did you not read the documentation when you invested in such a fund?


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## Privinv (1 Oct 2008)

That was not my question. I am looking for any points of view as regards how sound Quinn is with the present prevailing conditions


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## Brendan Burgess (2 Oct 2008)

> In addition, Quinn Life is a ring fenced regulated
> company meaning that the company's assets or retained profits cannot be
> drawndown or transferred to any other Quinn Group company without prior
> Regulator approval.


 

I have deleted a number of inappropriate comments about Quinn Life and Anglo.  The Quinn family has an investment in Anglo Irish Bank. This has no bearing on Quinn Life which is a separate company. 


Brendan


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## shipibo (2 Oct 2008)

Funds are separated from Quinn life Business 

They cannot pay debtors with our funds ??

What would happen if they did fold, would we get Money, or would funds be passed onto someone else to  maintain ??


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## lukegriffen (2 Oct 2008)

Just out of interest (&  lack of knowledge), I have my pension with Quinn Life, & while I'm not concerned about the financial state of QL,  what are people's thoughts on spreading your pension amongst several providers ?  
Should we get into the mindset that people had with deposits, ie. spread it around ?   Are there any particular advantages or disadvantages to spreading a pension around  multiple providers ?


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## gullmacm (2 Oct 2008)

I would also be keen to know what would happen to any money I have in a Quinn Freeway Unit fund if Quinn Life was declared insolvent?


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## LDFerguson (3 Oct 2008)

lukegriffen said:


> Just out of interest (& lack of knowledge), I have my pension with Quinn Life, & while I'm not concerned about the financial state of QL, what are people's thoughts on spreading your pension amongst several providers ?
> Should we get into the mindset that people had with deposits, ie. spread it around ? Are there any particular advantages or disadvantages to spreading a pension around multiple providers ?


 
If you're contemplating such a move, watch out for charges.  Ideally look for pension products which have a simple charging structure where charges are expressed as percentages of contributions and funds.  Try to avoid policy fees, which are flat amounts and can add up, unless your contribution is large enough to render them insignificant.


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## zephyro (3 Oct 2008)

gullmacm said:


> I would also be keen to know what would happen to any money I have in a Quinn Freeway Unit fund if Quinn Life was declared insolvent?


 
I'd also like to know. As I understand it the assets in the Freeway funds would be protected in this scenario. Can anyone confirm?


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