How safe are Irish Life's Protected Consensus Bond Series 2

[SunnySkies]

Hi there,

I invested €30,000 into an Irish Life's Protected Consensus Bond Series 2 investment in 2007. It is to mature in 2013.

I am just wondering how safe my money is. If I was to cash it in now (3.5 years later), I would only get approximately €22k, but I'm a bit worried re. how much will it be worth in 2013. Apparently, my €30k is garaunteed in 2013, but with all this talk of burning bondholders, I'm wondering if I should take my €22k now...

Also, what would you expect as a realistic return on €30k that is locked up for 6 years?

Thanks,

Sunny Skies!

 

[farmerette]

Hi there,

I invested €30,000 into an Irish Life's Protected Consensus Bond Series 2 investment in 2007. It is to mature in 2013.

I am just wondering how safe my money is. If I was to cash it in now (3.5 years later), I would only get approximately €22k, but I'm a bit worried re. how much will it be worth in 2013. Apparently, my €30k is garaunteed in 2013, but with all this talk of burning bondholders, I'm wondering if I should take my €22k now...

Also, what would you expect as a realistic return on €30k that is locked up for 6 years?

Thanks,

Sunny Skies!

irish life sell an awfull lot of dud funds , if you get back what you put in , you will be doing well

 

[Conan]

Even the "burn the bondholders" brigade dont mean Irish Life's Consensus Bond (I think??).
I dont see any reason why you will not get back the minimum guaranteed amount

 

[SunnySkies]

Thanks Conan. That's re-assuring to know that the average normal person who had some money to put away is not considered a bondholder to be burned! I guess it's just anyone who bought government bonds who is at risk of being burned? Hopefully Irish Life didn't buy any of those with my money.
Farmerette, I think you might be right. I would shop around more thoroughly next time... I just went with this Irish Life because they told me that my initial investment was gaurenteed. They also told me while they couldn't gaurantee what return I would get, that this particular fund was returning an average of 10%...

 

[dogmax]

i have a bank of Ireland evergreen guarantees fund and it has two years let to run , i am already down €2000 if the government default on the Irish bail out do i lose my guarantees.

 

[farmerette]

Thanks Conan. That's re-assuring to know that the average normal person who had some money to put away is not considered a bondholder to be burned! I guess it's just anyone who bought government bonds who is at risk of being burned? Hopefully Irish Life didn't buy any of those with my money.
Farmerette, I think you might be right. I would shop around more thoroughly next time... I just went with this Irish Life because they told me that my initial investment was gaurenteed. They also told me while they couldn't gaurantee what return I would get, that this particular fund was returning an average of 10%...

rory gillen wrote some weeks back in one of the papers that those guarenteed capital return funds shouldnt be touched with a barge pole , that nine out of ten of them dont make a rex , they are very attractive right now as investors are very cautious about thier money , charges are also high for any of those guarenteed funds

i put money in a fund with irish life a few years ago , i decided to put most of it in commoditys , this was during a period when oil , prescious metals and food was booming ( mid 2007 - mid 2008 ) yet it never made a bob , the fund managers get paid the same regardless so they tend to take a peg **** at wall aproach , baschically they hope something will stick and fire randomly , half the time they end up hitting an anglo irish bank or a qunn insurance and only every so often do they hit a paddy power

 

[dogmax]

deposits, savings and investments

has things really got that bad that we have to go back to our grandparents days where the safest place for their money was under the floor boards. p.s. where can i buy a safe that is fireproof.