Hi there I wondered whether the recent market uncertainty would have a big effect on my investement. I invested 50% in lo risk and 50% in high risk when I took out my SSIA. Although my SSIA has matured I am still paying 100.00euros a month into the investment fund. Do you think I should pull my money out and close this account or should I wait. I don't really have an urgent need for the cash so I could wait, how long should I leave it in there for?
Arklife Pip Ssia
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sorry clubman Im not a financial person so I chose them because the financial advisor in AIB told me it could be a good investment. I don't understand what you mean by what funds, they are 50% lo risk and 50% high risk equity based shares in Irish companies, is that what you mean? I didn't have any other reason to choose them other than when I was taking out my SSIA the choice was to be safe or take a risk for a possible better return. I took the risk and it paid off coz I got an extra 2000 on the 7500 I would have recieved had I just gone for a regular SSIA. Im a lay person so I don't have all the knowledge you have on financial matters, sorry
Hmmmm ... not the best way to get advice...
The money must be invested in some specific unit linked funds offered by Ark. Which ones?
So you need to evaluate whether or not equity based investments for some or all of this money is the most appropriate option for you right now and for a specific investment timframe. If it is and this product offers the best (lowest) charges and most appropriate funds then stick with it. If not then you should consider moving the money elsewhere to other investments.
There is no real magic to this stuff. Most of it is covered in this forum's key posts, the AAM Guide to Savings & Investments, the material on www.itsyourmoney.ie etc. But it does take some effort and reading to get up to speed on the basics.
Perhaps you need to talk to a truly independent financial advisor (authorised advisor or a good multi-agency intermediary and not the same or another tied agent) to do a comprehensive fact find and financial review for you?
ah well you see there is magic to it if you do not work in that area or have not studied it. I though the answer would more be like well yes the share prices have gone down but we expect them to recover or no they haven't gone down, thanks, I know it's my fault that I don't get all this stuff but it's a bit of a minefield!
Hiya Clubman I found the form that I wa given on opening this account and the funds are as follows:
AIB Managed fund series 2 - 50%
AIB Multi-track fund - 50%
Allocation rate 97%
I contribute 100 euros a month.
AIB Managed fund series 2 - 50%
AIB Multi-track fund - 50%
Allocation rate 97%
I contribute 100 euros a month.
an entry charge of 3% will be deducted from contribution before purchasing units
No exit charges
a fund charge of 1.5%
the cost of buy, selling and maintaining the investment are borne by the fund itself
23% deducted on profit of investment at the end of 5 years (which was last year, Im still paying 100 per month in)
thats all it sayes for taxes and charges and it sayes you should stay in for 7-8 years at least.
No exit charges
a fund charge of 1.5%
the cost of buy, selling and maintaining the investment are borne by the fund itself
23% deducted on profit of investment at the end of 5 years (which was last year, Im still paying 100 per month in)
thats all it sayes for taxes and charges and it sayes you should stay in for 7-8 years at least.
You can probably get similar funds with charges of 0% on each contribution and an annual management fee of c. 1%. The charges are not totally excessive but they're not the cheapest either. If it was me then I would probably be looking elsewhere for a better deal on charges. And then I would choose funds which suited my specific needs and investment timeframe (e.g. high equity content and risk/reward for long term investments etc.).
oh ok will have a look 'round maybe, but in relation to the original post of "I wondered whether the recent market uncertainty would have a big effect on my investement" would you be able to guage from this information?
I found this on the net so I suspect my shares have gone down
AIB Multi Track Fund
AIB Managed Fund Series 2
I found this on the net so I suspect my shares have gone down
AIB Multi Track Fund
- Invests in widely diversified portfolio, which spans all major world stockmarkets and also provides exposure to Eurozone bonds.
- The fund holds a portfolio of securities that provides exposure to more than 1700 companies.
- Open-ended fund - however, we strongly recommend that you view this as an investment for a minimum period of 5 to 7 years.
- Managed by Hibernian Investment Managers.
AIB Managed Fund Series 2
- Designed to invest in a carefully monitored portfolio of international shares, fixed interest securities, properties and cash deposits.
- Profit through capital growth potential and reinvested income
- Open-ended fund - however, we strongly recommend that you view this as an investment for a minimum period of 5 to 7 years.
- Managed by Hibernian Investment Managers.
Well - there's a simple way to judge - get the current value of your investment and compare it to what you paid in! Such market fluctuations/volatility along the way are to be expected and are part and parcel of (ideally medium to long term) investing. If you panic every time this happens then you may not be matching your investments to your needs/preferences accurately enough.
H
HappyGillmor
Guest
absolutely definately keep contributing. then go to someone who knows something about funds, decide how long you want to keep saving for and make a change to the funds if its long term.
Contributing now is buying in cheap. markets will recover. a good qfa will be able to advise you.
Contributing now is buying in cheap. markets will recover. a good qfa will be able to advise you.
If you set-up AIB internet banking assuming your accounts are with AIB.
You can monitor the value of your Ark Life investment. It is updated daily.
I have Ark Life PIP SSIA (Global Fund) and it has taken quiet a hit recently.
Down approx four grand on what was twenty five grand not so long ago.
Like yourself I was not so aware of costs associated with the investment when taken out the product initially plus it was close to the deadline. Learn a lot of this forum since.
However Quinn funds seem to be the order of the day in term of maintenance and contribution costs from reading this forum.
You can monitor the value of your Ark Life investment. It is updated daily.
I have Ark Life PIP SSIA (Global Fund) and it has taken quiet a hit recently.
Down approx four grand on what was twenty five grand not so long ago.
Like yourself I was not so aware of costs associated with the investment when taken out the product initially plus it was close to the deadline. Learn a lot of this forum since.
However Quinn funds seem to be the order of the day in term of maintenance and contribution costs from reading this forum.
I tried the other day to set it up with internet banking but I couldn't, did you ring them or do it online? That would solve all my problems coz I could monitor it myself. I can't believe by the way that you've lost 4 grand!!!! by the sounds of it though you should get it back if you stick with it. Did you get a bit of a fright when you saw??
ps: just tried it online again and it keeps saying "not available" when I add the account under the Arklife section
ps: just tried it online again and it keeps saying "not available" when I add the account under the Arklife section
Philips is probably right best to call them probably.
I think I did it in the branch. Been awhile now.
As for the funds drop in value it was not that much of a shock as I was watching the value regularly online. However it looks like we're not at the bottom of the trough yet with Asia’s markets slipping again this morning and oil still raising with the fall in the dollar.
Suppose this is the risk in equity based investment.
I think I did it in the branch. Been awhile now.
As for the funds drop in value it was not that much of a shock as I was watching the value regularly online. However it looks like we're not at the bottom of the trough yet with Asia’s markets slipping again this morning and oil still raising with the fall in the dollar.
Suppose this is the risk in equity based investment.