Dear Zuluboy,

Am pleased that you are having contact with UK Ombudsman. WTFry told me that I would have no case as my initial investment was in Singapore. However, the advice was based on my retirement to UK which I did after 8 months of my investment. I had to complete a new "risk assessment" form on my return and then had 6 monthly reviews of my investments until I terminated my arrangement with WTF.

In view of your comments, I am considering re-opening my compaint against WTF as investment is now moreorless worthless with apparent over valuation of property.

May I ask when you took out investment in Singapore and did UK Ombudsman not reject your case as initial investment was in Singapore?

Thanks for your advice

Nanikon

I too have lost a considerable amount of money by investing in this fund via WTF in Singapore which was described by them as medium risk. Unfortunately it was not until some time later that this appeared:

http://www.sfc.hk/sfcPressRelease/EN/sfcOpenDocServlet?docno=06PR112

If you are eligible to complain via the UK's FSA, then check out their website. I quote :-

"Generally, these time limits are:

• six months from the business sending the consumer a final response (which has to mention the six-month time limit); and
• six years from the event the consumer is complaining about (or – if later – three years from when the consumer knew, or could reasonably have known, they had cause to complain)."

Do not accept your IFA's blandishments at face value. Insist that they back up any assertions with legal valid documentary evidence.

Good luck. You will need it.

Time barred from which date? If it is from the date of your purchase, then that is irrelevant. It should from the date at which you could reasonably be expected to have a complaint. The onus is them to disprove this date.

These guys are the masters of obfustication. Question everything, believe nothing. Get them to support any and all assertions with documentary evidence.

Have you read the FT Advisor article?

Through my wife, we also invested a sizeable amount in Glanmore through WTF in Singapore. We claimed against WTF last year but were turrned down as initial investment was made in Singapore before we retired back to UK and also we were time barred. Seems we have lost out !!

I think all Glanmore and BRE shareholders should read this report published in FT Advisor in June 2009. All worth reading, but Glanmore analysis starts at bottom of page 3.

Having read it, you may wish to ask your IFA to give you just one good reason why he recommended that you invest your monies into either fund.

Morning zuluboy. Please see my post from a couple of days ago. I was also advised by WTF while living and working as an expat in Singapore.

Although I have all the documentation I've ever received from Glanmore, I can't find any of the recommendation documentation from WTF at the moment but it may all be in a pile at our house in Spain - problem is that we're not there until end July!