Irish Life moves to halt investor exodus

https://www.cartoonstock.com/newscartoons/cartoonists/mgt/lowres/mgtn48l.jpg

The fact that ILP told nobody ( officially) that the fund has dropped 12% in Asset Value in the past 3 months would have nothing to do with anything would it ??.

Only well connected speculators would have heard this . The sheep are now locked in , the wolves have their ca$h .

Also in that article, Irish Life lays the blame squarely on Hibernian, saying that it was the 12.5% automatic mark-down on encashments in Hibernian’s Irish property fund which triggered the stampede.

I wonder if Irish Life’s Terms and Conditions don’t allow for mark-downs.

There is also an article in the Sunday Times about a looming oversupply in the commercial market. Treasury Holdings were mentioned in particular as having their bare asses hanging out of window on this one with unlet spec developments. I’ll post up the data in the article tomorrow.

Great move there lads. That’s really going to restore confidence in IL&P, especially with all the rumours going around.

I seeeee, " Mark To Market " at its most literal is whats afoot then .

Either

  1. allow withdrawals and cream then for 12%

or

  1. Block withdrawals and mark up that 12% instead .

" blamed the investors for moving on after growth slowed"

wow …no way…really ? :unamused:

INVESTORS SEEKING HIGHER RETURNS!!!

THAT’S CHEATING

How unpatriotic!

These redeemer people are faint-hearted I tell you. FAINT-HEARTED.