1 reviews | Active since Apr 2017
Investing money
<p>Good Day</p> <p> </p> <p>Its with much regret thatI have invested monies with Stanlib, WHICH I WILL NEVER EVER RECOMEND</p> <p>ANY PERSON TO DO SUCH. About 6 years ago I Invested some money through Standard Bank namely STANLIB. For the past years I have just been receiving SMS'S with regards to the AFRICAN BANK situation. Its been years I am strugling to withdraw my money, on several occasions I have called Stanlib,held on for along period of time, and I am calling from a cell phone from Cape Town, air time spent everytime, e-mailed as well, to date not one reply, no consultant calls you back. On Monday 01-04-17 I proceeded to Standard Bank In Lansdowne Cape Town, completed tow re-purchase forms with the consultant who clearly stated that she would fax the documents to Jhb and call me as well once the transaction is done. Nothing took place, no phone call. I then went to the ATM -R300.00??? . On the 06.04.17 I went back to the bank to inquire, and also called STANLIB, only to be told ONCE AGAIN, SORRY SIR YOU CANNOT WITHDRAW YOUR MONEY!!! I am so upset with all this for years and I cannot withdraw my own funds??? I urgently require more clarity, I WANT MY MONEY ASAP as I did NOT INVEST WITH AFRICAN BANK, I invested with STANLIB, this bull **** is carrying on now for years, I clearly stated on the forms close accounts and all funds to be deposited. NEVER WILL I EVER DEAL WITH STANLIB AGAIN. All I got from a consultant from Stanlib today 06-04.17 was sorry sir our manager is not available- OLD STORY- I want money , who's fault it with regards to the AFRICAN BANK ISSUE??? NOT MINE SORRY</p> <p> </p>
Hello Ascot 13,
Although you were not satisfied with my answer to you on this matter, it should still be noted that all investors have had returns on the ABIL retention funds and that it has proved to be in the best interests of all investors. The underlying senior and junior debt instruments continue to provide interest returns as per their agreed mandates and will reach maturity if not traded by the fund manager. Just to reiterate, the fund managers will only trade the investments when and where they can get fair market value. Of your particular fund, the STANLIB Flexible Income Retention Fund, more than 50% of the original value plus interest has already been switched out to the STANLIB Flexible Income Fund - and the market value remaining in the retention fund is at present at more than 70% of the original value at the time it was initiated in August 2014.
I do understand that you are experiencing some trying times personally. We will continue to look after your investment interests and will continue reducing the holdings of the retention funds to the advantage of our investors.
Kind regards
Barbara Egan, on behalf of the STANLIB team.
Best regards,
Hello Ascot 13,
Although you were not satisfied with my answer to you on this matter, it should still be noted that all investors have had returns on the ABIL retention funds and that it has proved to be in the best interests of all investors. The underlying senior and junior debt instruments continue to provide interest returns as per their agreed mandates and will reach maturity if not traded by the fund manager. Just to reiterate, the fund managers will only trade the investments when and where they can get fair market value. Of your particular fund, the STANLIB Flexible Income Retention Fund, more than 50% of the original value plus interest has already been switched out to the STANLIB Flexible Income Fund - and the market value remaining in the retention fund is at present at more than 70% of the original value at the time it was initiated in August 2014.
I do understand that you are experiencing some trying times personally. We will continue to look after your investment interests and will continue reducing the holdings of the retention funds to the advantage of our investors.
Kind regards
Barbara Egan, on behalf of the STANLIB team.
Best regards,