AIB Tracker Funds Matured But no update OR payout

C

ciarano

Registered User
Messages
36
Hi,

My friend invested in 2 AIB Tracker Funds back in 2005 and now have matured.He invested in the following.
AIB property sector tracker fund issue 2 Low/Medium
&
Issue 76 of the AIB secure Tracker Fund Low/Medium

He has not received any correspondence in relation to his investments in a very long time nor any payout??
My questions are

  • can i find out the status of the above Funds?how they performed?

  • Are AIB not legally obliged to send a statement at least once a year?

  • Can the sale of Property be used as security for borrowings? and as a result invested to be used as replacement security.?(the money could have been put in a deposit account OR in a secure capital investment bonds,The option of investing in the Tracker funds was chosen.)
  • If after the Funds matured and say money was owed to AIB as friend had other borrowings both personal and business dealings can they take the money that was invested and its gains if there was any?
 
That is very odd.

Has he not asked AIB for the valuation?

Interim valuations on tracker bonds are not very meaningful as there are all sorts of conditions attached.

Why are you worried about your friend's investment? Can they not check it out for themselves?
 
Hi,

Good Morning and Thanks for the reply,

I am currently acting on behalf of my friend and am in the process of writing to AIB for him as his authorized contact

He is currently very ill at the moment has asked me for his assistance as he is not tech savvy but i am and i know this is a great forum so trying all avenues

Kind Regards.
Jon
 
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