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Aviva in trouble?

  • 25-03-2011 4:35pm
    #1
    granturismo
    Registered Users, Registered Users 2 Posts: 1,953 ✭✭✭


    I was looking to invest in some of Aviva's funds for 5 years. I'm not looking for specific fund advice but rather heard from someone this week that he got a letter from Aviva stating that they werent accepting any more payments into his pension fund - no explainantion and he cant get an answer over the phone.

    My query is if anyone has heard about rumours about Aviva going belly up apart from general 'there's no guarantee with any investment company'. thanks.


Comments

  • #2
    SBWife
    Registered Users, Registered Users 2 Posts: 1,287 ✭✭✭SBWife


    Funds get closed for new investment all the time (there's often a limit on the amount of money a PM can run successfully in a particular style) are you sure this isn't what your friend is talking about?


  • #3
    granturismo
    Registered Users, Registered Users 2 Posts: 1,953 ✭✭✭granturismo


    SBWife wrote: »
    Funds get closed for new investment all the time (there's often a limit on the amount of money a PM can run successfully in a particular style) are you sure this isn't what your friend is talking about?

    Possibly, he's been trying to get info for a few days without success.


  • #4
    Raskolnikov
    Registered Users, Registered Users 2 Posts: 10,148 ✭✭✭✭Raskolnikov


    granturismo wrote: »
    I was looking to invest in some of Aviva's funds for 5 years. I'm not looking for specific fund advice but rather heard from someone this week that he got a letter from Aviva stating that they werent accepting any more payments into his pension fund - no explainantion and he cant get an answer over the phone.

    My query is if anyone has heard about rumours about Aviva going belly up apart from general 'there's no guarantee with any investment company'. thanks.
    Your friend is probably full of sh!t. Aviva are one of the biggest insurance companies in Europe and haven't reported any recent difficulties. It's much more likely that the fund has been closed because it can no longer guarantee no capital losses. Before the financial crisis, a lot of funds promised this. However, when the market tanked, supposedly AAA rated securities didn't look too hot, and the value of some funds lost value. Because some funds were sold as non-loss making, Aviva had to take to cover the shortfall.


  • #5
    Trampas
    Registered Users, Registered Users 2 Posts: 7,987 ✭✭✭Trampas


    Aviva

    Insurer financial strength rating (IFSR)

    S&P Moody’s AM Best
    Rating AA- Aa3 A
    Description Very strong Excellent Excellent
    Outlook Stable Stable Positive


  • #6
    granturismo
    Registered Users, Registered Users 2 Posts: 1,953 ✭✭✭granturismo


    Raskolnikov wrote: »
    Your friend is probably full of sh!t.
    read the OP and replies


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