Hi there,
I was wondering if I could get some advice - my father retired - he sold a family business some years ago and had some money to invest. 12 years ago he invested in a fund that after year one paid monthly dividend.
All was well, last year he decided to shop around - he spoke to a few banks and a broker. The broker and two banks recomended a simular fund. So my dad invested. He was also advised that this was a low risk fund.
Over a year has gone by 3 months ago my dad got a letter from this financial informing him that over the year his fund has decreased by 15%, my dad given that this was a 10 year fund was not undually worried.
My dad was due to recieve some income from this fund since June and hasn't, I have advised him to contact the company. However he is reluctant to do so.
At the moment he is barely surviving on the pension... Any advise would be appreciated...
P
I was wondering if I could get some advice - my father retired - he sold a family business some years ago and had some money to invest. 12 years ago he invested in a fund that after year one paid monthly dividend.
All was well, last year he decided to shop around - he spoke to a few banks and a broker. The broker and two banks recomended a simular fund. So my dad invested. He was also advised that this was a low risk fund.
Over a year has gone by 3 months ago my dad got a letter from this financial informing him that over the year his fund has decreased by 15%, my dad given that this was a 10 year fund was not undually worried.
My dad was due to recieve some income from this fund since June and hasn't, I have advised him to contact the company. However he is reluctant to do so.
At the moment he is barely surviving on the pension... Any advise would be appreciated...
P