# Anyone still own any Quinn Life Freeway Index funds (now looked after by Irish Life)



## patrickjd (21 May 2014)

Just curious if they are many/any others who still hold these index funds since they switched to Irish Life and have you had any interaction with Irish Life since the switchover?


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## Eeyore (21 May 2014)

I have some of these funds since before they moved to Irish Life and I have received annual statements from them and contacted them by email and through their web site. I have found them easy to deal with.


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## 3CC (21 May 2014)

Same here. Irish Life seem fine to deal with.


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## Buddyboy (22 May 2014)

Same here, still paying into the funds monthly.

Easy to deal with via on-line access or via emal/phone.  Phone goes to a call centre type operation who may not have in-depth knowledge of some aspects. For example, the had no idea what "rebalancing" funds ment, and had to refer it to someone else. But once it was referred it went fine.


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## patrickjd (22 May 2014)

Buddyboy said:


> Same here, still paying into the funds monthly.
> 
> Easy to deal with via on-line access or via emal/phone. Phone goes to a call centre type operation who may not have in-depth knowledge of some aspects. For example, the had no idea what "rebalancing" funds ment, and had to refer it to someone else. But once it was referred it went fine.


 
Interesting. I have had great difficulty in try to add to my index funds. Different answers form different people regarding what was or was not allowed. Still cannot get a straight anwser.


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## patrickjd (22 May 2014)

Have you tried to add to these funds since Irish Life assumed control of them? If so how did you find the process?


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## patrickjd (22 May 2014)

Eeyore said:


> I have some of these funds since before they moved to Irish Life and I have received annual statements from them and contacted them by email and through their web site. I have found them easy to deal with.


 
Ever tried to add to these funds since Irish Life took over? If so how did you find them to deal with?


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## patrickjd (22 May 2014)

3CC said:


> Same here. Irish Life seem fine to deal with.


 Ever tried to add to these funds since Irish Life took over? If so how did you find them to deal with? 
​


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## 3CC (22 May 2014)

I just made an additional lump sum payment to these funds (which within a personal pension) - very straightforward.


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## kenmare (2 Jun 2014)

I have Quinn Funds taken over by Irish Life. Having had a good look on Irish Life site I cannot find the fund prices for these funds. Anyone any idea where they could be? 
kenmare


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## postman pat (2 Jun 2014)

patrickjd said:


> Ever tried to add to these funds since Irish Life took over? If so how did you find them to deal with?



I had a major problem with adding a top up to my fund with Irish Life formally Quinnlife, i sent in my draft.. nothing happened for a week nothing happened for a second week.. i rang them,they said it would be added the next day, to make a long story short the money was not added for over 5 weeks and after about 30 phone calls from me.
I really found them bad to deal with to be honest, one person even said to me on the phone that over the 5 weeks my money was in limbo the funds dropped a little implying i was LUCKY!..i asked her if the funds had risen or went through the roof what would their position be?,she had no reply.
For a finish after i said i was unhappy with the service and that I was only with Irish Life by default, they sent me a small token amount in a cheque as a gesture.


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## patrickjd (12 Jun 2014)

Buddyboy said:


> Same here, still paying into the funds monthly.
> 
> Easy to deal with via on-line access or via emal/phone. Phone goes to a call centre type operation who may not have in-depth knowledge of some aspects. For example, the had no idea what "rebalancing" funds ment, and had to refer it to someone else. But once it was referred it went fine.


 
Hi, via which method do you pay into your funds? They told me they cannot accept DD's/electronic fund transfers. Insisted on Bank drafts or Postal orders which incur their own fees of course.


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## PMU (12 Jun 2014)

patrickjd said:


> Hi, via which method do you pay into your funds? They told me they cannot accept DD's/electronic fund transfers. Insisted on Bank drafts or Postal orders which incur their own fees of course.


 I've a monthly DD set up (goes back to QL days).  I've had no problem dealing with them; fund switching, etc.

 As for IL not accepting DDs/efts etc. if you look at the Policyholder circular that was distributed to all QL policyholders before the transfer of policies to IL took place it says that “There will be no changes made to your existing policy terms and conditions”, so if your old QL policy t&c allowed eft I would think you could argue with IL that they are required under the transfer agreement to honour your old QL t&cs and efts should be allowed.


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## patrickjd (12 Jun 2014)

PMU said:


> I've a monthly DD set up (goes back to QL days). I've had no problem dealing with them; fund switching, etc.
> 
> As for IL not accepting DDs/efts etc. if you look at the Policyholder circular that was distributed to all QL policyholders before the transfer of policies to IL took place it says that “There will be no changes made to your existing policy terms and conditions”, so if your old QL policy t&c allowed eft I would think you could argue with IL that they are required under the transfer agreement to honour your old QL t&cs and efts should be allowed.


 
Maybe they have to cater to existing DD's? I never set up a DD in the QL days, (just made 1 upfront premium of EUR1250 and then smaller ad hoc lodgements). Unbelievably Irish Life will not accept EFT's now (seriously). It seems the most cost efficient option is now for me to get a Cheque book for the first time in my life if I wish to top up reguarly(again incurring costs I did not have under QuinnLife). BTW like another poster here they sent me a token cash amount to apologise for messing me around.


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## postman pat (12 Jun 2014)

patrickjd said:


> Hi, via which method do you pay into your funds? They told me they cannot accept DD's/electronic fund transfers. Insisted on Bank drafts or Postal orders which incur their own fees of course.



The same in my case,the seem to be going backwards, it does not instill great confidence in how they invest funds etc.


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## lathyrus (5 Sep 2014)

I'm still making regular payments into a former Quinn Life Direct Euro Freeway fund at Irish Life. I'd had no problem viewing statements or changing the amount invested per month. To sell units you have to post a paper form to them, which means you don't have control over exactly when the sale is made (it took about a week when I did it) whereas with Quinn you could sell units online.

I couldn't find any information on the Irish Life site about what the QLD Euro fund is actually invested in. Nor do I know what the annual maintenance charges are (with Quinn they were 1% I think). Quinn used to say that it tracked the Eurostoxx 50. In calendar year 2013 the Eurostoxx 50 went up 18% and the QLD Euro price went up 21%, so Irish Life seem to be doing an OK job with this fund but I'd like more transparency.


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## postman pat (22 Mar 2015)

just to update i still have the funds with Irishlife and they are doing quite well!..but its very hard to find their fund charges still...maybe if i gave an example of amounts invested per month and a total invested, someone could give the total charges taken by Irishlife

monthly investment                       €100
total invested to date                     €12500


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## haroldsxxx (20 Dec 2016)

As far as I recall one of the advantages of a long-term investment in QL funds was that after 10 years, the annual mgmt fees were reduced. My recollection is that the reduction was to 0.5% for those funds which were charging 1% pa in the first ten years. I've gone to check old QL documentation but cannot find anything that confirms the above. Does any AAM reader recall such a provision? I am curious as my own QL funds, begun in 2006, transferred to Irish Life in 2012.


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## Brendan Burgess (21 Dec 2016)

haroldsxxx said:


> As far as I recall one of the advantages of a long-term investment in QL funds was that after 10 years, the annual mgmt fees were reduced. My recollection is that the reduction was to 0.5% for those funds which were charging 1% pa in the first ten years. I've gone to check old QL documentation but cannot find anything that confirms the above. Does any AAM reader recall such a provision? I am curious as my own QL funds, begun in 2006, transferred to Irish Life in 2012.



Hi Harold

Askaboutmoney is a great record of such things. Mugs Game documented the charges in this post 

http://www.askaboutmoney.com/threads/lump-sum-investment-funds-unit-linked-execution-only.37142/


Minimum €1,270. 
Annual Management Fee 1% to 1.5% depending on fund (reduced by 0.5% after 15 years). 
No entry or exit charges. 100% allocation. First two fund switches per year are free (€25 thereafter). 
Online access to portfolio.


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## haroldsxxx (21 Dec 2016)

Many thanks Brendan. The collective memory works ... so reduction in AMF is BY 0.5% and not TO 0.5% and after 15 years, not 10 years. 
Let's see if Irish Life take over and honour this QL commitment. For savers invested over such a long period, the difference is likely to be many hundreds of euros per year.


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## Buddyboy (22 Dec 2016)

As a QL Fund investor I will be interested in this.  I must check as I think I have been in the fund for the best part of 15 years.
Might have to send a query to them - I'll post the outcome.


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## hadit2here (29 Nov 2017)

hi

i know it is old, but no point in starting a new thread....

how are the QL funds performing and were the charges reduced?

thanks


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## Buddyboy (29 Nov 2017)

Hi,
don't know off-hand how they are performing, but in the last communication, they were still up on what I have paid.
I also checked, and I have not had them for 15 years yet, so the charges aren't due to be reduced yet.
Jeez, I replied 11 months ago - time flies (like an arrow - and fruit flies like a banana - Groucho Marx)


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## mtk (1 Dec 2017)

1) I have one of these are prices on irish life website i cannot see them?
2) rang irish life customer service closed until 10 please ring back cor leave a message - guess what? mail box full . what terrible service!


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## PMU (1 Dec 2017)

mtk said:


> 1) I have one of these are prices on irish life website i cannot see them?
> 2) rang irish life customer service closed until 10 please ring back cor leave a message - guess what? mail box full . what terrible service!


I think this is unfair to IL. You have to register with IL and then when you log in to online servies you get a dashboard showing your policies, their value and the value of the funds within each policy. It's easy to rebalance between funds, etc. Personally, I think IL online is one of better services around.


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## SPC100 (29 Jul 2018)

I see a few folks on this thread were interested in the possible 15 year charges reduction - I started a separate thread with a more focussed title, to see if anyone knows if Irish Life are honoring the promised 15 year reduction

https://www.askaboutmoney.com/threa...-life-get-the-5-amc-loyalty-reduction.209091/


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