LQ
Lemmer Q

1 reviews | Active since Feb 2016

01 Jun 2024, 11:31

Worst investment in the world!!!!!

I have been a client of Fedgroup for over 4 years and always topping up on my investment. Last year I had some financial difficulties due to my business closing down and asked them to atleast give me 50% off my over R200 000 investment as am about to lose my house,car and have no food with my wife and kids whilst taking care of my sick mother. Guess what? They said I must find a buyer for my assets that I hold with them. Where am I supposed to find one? I asked on numerous queries they keep sending a copy and paste response email. I believe this is either a **** or they use your money that you invested for their own gain. This month I received R0,93 so which means I must be homeless with my family whilst my money sits with them. Don't ever invest with them. It's not worth it!!! Frustrated loyal investors. Mr Quma

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Replies (2)
Fedgroup
Fedgroup's reply05 Jun 2024, 09:12
Official
 Hi Larry,  While we understand your frustration, we don’t believe your assessment of the situation is accurate or fair.  Impact Farming is designed to be a medium to long-term investment in real assets that incur upfront installation costs and ongoing maintenance costs, while capital is repaid incrementally with each return payment. Impact Farming therefore doesn’t offer the type of liquidity as you would expect from, for example, Unit Trusts.  To ensure that we can continue to offer this product in a sustainable manner, we have outlined the process to be followed should someone wish to sell their assets in the terms and conditions. The onus is on you as the investor to find a willing buyer for the assets, our team facilitated your requests on multiple occasions during the period that you have been invested in Impact Farming, ensuring that you received the requested amount every time. It is important to note that these payments were previously possible because economic conditions allowed, and we had prospective buyers who expressed interest at the time. This, however, is not the case at present due to the constrained economic environment.  We have also noticed that you continue to reinvest in Impact Farming. Although our team has consistently gone above and beyond to accommodate your annual requests, this product doesn’t seem to be suited to your financial needs.  Our team has previously suggested that you consult a financial advisor to find investments that offer more liquidity and that would be better suited to your financial needs. If you would like us to put you in touch with an advisor, please let us know and we’ll be happy to help. 
LQ
Lemmer Q's update05 Jun 2024, 09:15
Reviewer Update
I don't want to be put with a advisor, I just want my money that I invested today.