Quinn Freeway Funds - would you?

I’m thinking of building up a rainy day funds by investing in one of the Quinn Freeway fund (probably the “clean energy” one as that gives me a warm fuzzy feeling inside and seems as good a bubble potential as the next one).
Question is, with Quinn’s shenanigans lately how safe would my money be there (outside of the funds performance), is there a risk of the entire Quinn group sinking below sea level?
I think hyperinflation is a real prospect so reluctant to simply stick it into a bank account, physical gold is near impossible to buy and paper gold I don’t trust, maybe bullionvault?
I just would like to maintain value of my savings if a hyperinflationary environment lifts off (once Obama takes office I can’t see how anything else is possible as he seems intent on spending the way out of the current recession - read deflate the value of debt).
I’d like to put away a steady amount each month and not have to worry about hiring an accountant to figure out tax liabilities on realisation thus the Quinn funds appeal, just worried they may not be the safest thing to go with right now.

I haven’t a notion on the above but I reckon a lot of people here have simialr concerns regarding the inflationary affects of the plans out there on their savings levels. Could be a good thread

I save a relatively small amount in their Bond fund. I have some concerns, and I don’t think they’re covered by the Depositor’s guarantee. But for the moment I’m going to leave it where it is.

There is a guarantee in place for those sort of funds as well. Not sure if it was raised from 90% of €20,000 to 100% of €100,000 when the bank deposit guarantee was first raised in the Summer/Autumn. The financial regulator’s site should have some info on it.

You’re thinking of investing in a fund because it gives you a warm fuzzy feeling and you think that it might “bubble”?

If that’s your attitude to money, you might as well just hand your wallet over to Sean Quinn.

Well there’s more to it than that, but the post isnt about the merits of the individual funds, more the likelihood of the Quinn Group folding taking my savings with them.

Still at 90% of 20k.

The fund is likely as underfunded as the deposit protection scheme is. Nobody really expects anyone big to go bust, so why bother saving up in case they do?

Yikes https://www.easyfreesmileys.com/smileys/free-scared-smileys-366.gif

It won’t surprise anyone that the links on the financial regulator’s site (www.ifsra.ie) to check regulated firms are broken!! :frowning:

Just checked it

GB, is this because the FR has realised it doesn’t actually regulate these companies? :laughing:

I thought these funds were covered by the Investor Compensation Scheme since Quinn is regulated by the Irish Financial Regulator, but maybe not…


An email from Quinn stated:

Unclear to me whether this just applied to life policies written by Quinn or whether the underlying Freeway funds were also not covered.

My understanding is that the ICCS does not apply to any products sold by an insurance company. I’m open to correction on this but AFAIK there is no protection scheme for insurance products.

Quinn run “life wrapped” investment products. What you get when you invest is a life assurance policy, the price of which is linked to some specific underlying assets. The assets are held by the life company. So if Quinn Life fails you are simply another policyholder looking for recompense. Hence these types of investment funds theoretically have more risk than investment funds as per below.

This compares with other funds that might be limted investment fund - i.e. limited companies where you own a share related to the size of your invesmtent (e.g. UCITS I or II, SICAV, CCF - different funds under different regulatory regims, the last one Irish). The share value is by definition the valuse of the underlying assets held by the investment fund so you effectively have you funds guarranteed (except if someone embezzles and not withstanding that the fund might be very poorly invested - say 100% in Anglo).

SO if you thought Quinn Life was a bad risk, you wouldn’t buy their life wrapped funds.