Standard Life Synergy Portfolio Bond

H

hobbes

Guest
Been lurking for a while here, I really appreciate all of the advice and discussions that go on here. I'm looking for opinions on whether I should stick with my Standard Life Synergy Portfolio Bond or not. It's a commercial property fund, mostly in the UK.

I put €30K+ into it last year, it's already lost about 20% of its value. I can get out without being penalised, and that's my current plan, but I just thought I'd post here and see what others think. Should I sit out the storm, or cut my losses?

I don't need the money urgently, but am hoping to buy a family home about two years time and will need a deposit.
 
hobbes said:
I don't need the money urgently, but am hoping to buy a family home about two years time and will need a deposit.
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The Standard Life brochure for this product states: “Taking out a Synergy Portfolio Bond is a long term commitment and you should only enter into this contract if you are satisfied that it meets your savings and investment needs and circumstances.”

If you are hoping to buy a home in two years, why did you invest in a long term product? If this is the deposit for your house, would it not have been more prudent to leave it in a savings account?


hobbes said:
I'm looking for opinions on whether I should stick with my Standard Life Synergy Portfolio Bond or not. It's a commercial property fund, mostly in the UK.
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As far as I know, you can select and mix a range of Standard Life investment products in the Synergy bond. When you selected UK commercial property as the main investment type, presumably you were happy not only with the risk you were taking, but also with the type of returns expected from investing in foreign commercial property.
 

In hindsight, yes it would have been more prudent. Unfortunately, I didn't have any real experience of investment. I went with what was classed as a lower risk investment, thinking that was being prudent enough.

This is a long-term product but has flexible conditions which mean that I can get out whenever I want without penalty.


Yes, I was comfortable with taking what was categorised as a lower risk. I was advised the return was likely to be in the range 8-14%. It would be easy to blame the advice I was given, but I didn't do proper research as I was under time pressure to make the decision. So, it has been a rather painful learning experience.
 
Of course you are going to be penalised. You have already mentioned that it is down 20%. Do you want more penalties ???
 
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