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Help Property Fund Advice

  • 03-08-2011 11:10am
    #1
    mags1962
    Registered Users, Registered Users 2 Posts: 395 ✭✭


    Hi All, have had 10k in an Irish Life Property Fund for the last 6 years but now it's down to about 6k and I am wondering what to do next.
    Should I cash in and invest in something else or stick it out. The other half wants to cash it in but it's a lot to lose and I am not sure.
    Any advice welcome either way.


Comments

  • #2
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    mags1962 wrote: »
    Hi All, have had 10k in an Irish Life Property Fund for the last 6 years but now it's down to about 6k and I am wondering what to do next.
    Should I cash in and invest in something else or stick it out. The other half wants to cash it in but it's a lot to lose and I am not sure.
    Any advice welcome either way.

    irish life are particulary stinky when it comes to the amount of dud funds they flog , im actually surprised your fund has only lost 4k , id be cashing out if i was you , knowing irish life as i do ( bad experience ) , i imagine thier is an early exit penalty :mad:


  • #3
    mags1962
    Registered Users, Registered Users 2 Posts: 395 ✭✭mags1962


    No penalty just 6 months written notice.


  • #4
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    mags1962 wrote: »
    No penalty just 6 months written notice.

    outrageous


  • #5
    mags1962
    Registered Users, Registered Users 2 Posts: 395 ✭✭mags1962


    Yeah, I know but you ain't helping much Robert. Can you do any better?:)


  • #6
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    Realistically we are unlikly to see any upturn in commercial property prices in the near term, seeing as how they are linked to the performance of the economy generally. I would at the very least provide them the six month notice, that way you will at least have the option to switch/encash at hand. If you decide to stay put they will allow you to remain invested i would imagine.

    If it were me i would take the hit and exit it asap and be happy your only taking a 40% hit, unless of course you would be happy to leave it place for another 8-10 years


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  • #7
    mags1962
    Registered Users, Registered Users 2 Posts: 395 ✭✭mags1962


    Cheers Pablo, think I will cash it in and put it in the Post Office for 10 years and get the guts of 3k back.


  • #8
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    Yep, the solidarity bond is yer only man!


  • #9
    mags1962
    Registered Users, Registered Users 2 Posts: 395 ✭✭mags1962


    Think I will top it up a bit so as I feel that I am not losing 4k, enough to earn more than that but not so much that I can afford to lock it away for 10 years.
    Thanks again.


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