Effect of Nationalisation on Evergreen Fund

B

Ballybabe

Guest
I am new to this site. I was wondering if anyone has any idea what the effect of Nationalisation of BOI would have on the Evergreen fund. I am in it for the long haul and I accept there will be dips etc (this one is a little stomach churning though !). If the bank gets nationalised will I lose all my investment like if you owned bank shares in anglo you lost them all when it got nationalised. Could the same happen to funds such as the Evergreen fund. If so I am getting out now and cutting my losses. My childrens allowances has been invested in it and I hope it will put my kids through college etc. starting in about 10 yrs time.
Any advice greatly appreciated. Thanks
 
As far as I know Evergreen funds are investment funds, not saving accounts, so your investment capital is not guaranteed (they it invest in property, equities etc which may rise and fall) and you are are not covered under the deposit guarantee scheme. That is my understanding of Evergreen Funds anyway, although I am open to correction.
 
Thanks Flanders, you are right that the fund is invested in property, equities etc and it is not covered by the Government guarantee scheme.

I am wondering though if BOI gets nationalised, which is a distinct possibility, does it wipe out my fund completely or does my fund still continue to operate, rise and fall depending on the economy. Am happy to let it sit as it is and wait for a rebound in the shares values at some point in the future, even if thats ten years or so. I just dont want to leave it there if I thought I would have nothing at all if BOI was nationalised. Am clueless on this part.
 
I have no idea to be honest, best to contact them directly i'd say, though they'll probably confuse you even more (from my experience of BOI anyway)
 
Evergreen is a fund which owns assets such as shares, property & bonds. It is managed by Bank of Ireland Asset Management which is owned by Bank of Ireland. If Bank of Ireland is nationalised, the fund will continue to operate. If Evergreen owns Bank of Ireland shares, the value of these would be affected but otherwise it would carry on as normal.
 
Thanks LDF, yea your right on your earlier post about it, some of it is invested in BOI shares so is affected by their price, although from what i can find out its invested in 200 companies so is dependent on all of them doing well or the majority. I am still trying to find out the 200 companies but info is hard to come by even from the BOI agent that I took it out with. I guess its just a case of wait it out and hopefully it will return to some kind of decent fund in time. Thanks for your info on what happens if BOI gets nationalised, thats reassuring anyway.
Thanks for the posts.
 
Ballybabe
Check if you got a guaranteed fund also which means that you are guaranteed to get back what you paid in, fund manager mentioned this to me this week when I checked on mine, I checked this on my two this week but unfortunately I didn't guarantee it, good for those who did though
 
No its not guaranteed, I didnt know this was an option. Pity. I am now very worried about next year, I am using my child benefit to pay into it in the hope that there will be a decent fund to enable my kids go to college. If the child benefit is means tested or taxed next year I wont be able to afford to continue paying into it and I dont know what will happen to it then. Its a massive mess !
 
You must log in or register to reply here.
Back
Top