Withdraw your savings from OM before you lose them.

The fundamental requirement we have from financial institutions is that they safeguard the money we have entrusted them to invest, pay us out when requested, including the interest involved in the investment. OM cannot manage even this basic task. I had funds invested in the OM Money Market in 2018, but when I switched the funds out I received exactly the same amount. No interest was paid and OM provides only the same financial statement to this effect, despite my repeated requests about the transaction and the interest. I include my email exchange in desperation as all the evidence that is needed (due to the slow response from OM, this exchange took place over a full month in 2018):

Dear Sir/Madam I have been an investor with Old Mutual unit trusts for two decades now. This month I made a switch from the OM Money Market Unit Trust to another. Please could you tell me how and when I might get an accurate transaction statement (the online statements are inaccurate)? The fund into which I switched is Old Mutual Financial Services Fund. Regards

Dear MR. Enclosed is a Transaction Statement from the Old Mutual Unit Trusts secure website. Please contact our Client Service Centre on ***if you have any queries. Regards, Old Mutual Unit Trusts

Dear Old Mutual Unit Trusts Please respond fully to the query below. Kindly note that the value in the Money Market account in your transaction statement is incorrect. Perhaps start by sending me a full transactional statement for the Money Market account from the date I purchased the fund until the date of the switch. I really expect more from the long-term custodians of my finances.

Good Day Client Number: Thank you for the email of 20/11/2018 requesting information. Attached is a Transaction Statement for the period 25/05/2018 to 20/11/2018.

Dear Old Mutual Unit Trusts This is the third follow-up to a simple question. See – your attached statement - Now kindly explain why there has been no distribution (interest earned) on the Money Market in the 2018 period?

Dear Old Mutual Unit Trusts Kindly update me on progress.

Good day, INVESTMENT NUMBER: Thank you for your email enquiry. The statement as requested is attached.

(The same statement showing no interest earned or paid was attached in every email from OM)

I advise all to withdraw their investments and use reputable institutions. As and aside, updating records with my other two financial institutions has taken an hour or two, versus two weeks and endless emails and paperwork with OM.