RB
Rudi B
1 reviews | Active since Aug 2012
20 Mar 2016, 16:27
Poor service
May I share with you the poor service received from Standard Bank and more specifically from Stanlib. Stanlib has invested funds of mine and other clients, inter alia, in African Bank, in spite of all signs pointing to the volatile state of the affairs of the African Bank. Fund managers of other investment firms have apparently interpreted the situation of African Bank more accurate as none of my investments with other firms included investments with African Bank. Funds that were invested with African Bank were in the meantime invested in a Stanlib Retention Fund with no indication if it would be paid out to investors and if so, if any interest will be paid on it. In order to obtain some indication of what the future of our funds in the Retention Fund will be after months and months of silence, I have E-mailed Standard Bank (10, 18, 24 Nov) and spoken to several representatives locally as well as at the Standard Bank head office at various occasions (Such as Complaints Department, Pearly James). However the best reaction that was received was from Mr Lerato Tsunke on 25 November 2015, ensuring me that a \detailed formal letter will follow\" Still waiting."
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STANLIB's replyOfficial
21 Mar 2016, 15:46Hello Kat Botha,
I have sent you a response by e-mail. It is a pity that we did not manage to alleviate your concerns in November last year. We would like to bring to your attention that there was a full disclosure of the STANLIB Income Fund's holdings in African Bank on the Fund Fact Sheet at the time of the Bank's rescue. The holdings were also reported openly in our quarterly reports, both published on www.STANLIB.com. (I have sent these PDFs to you).
Although the STANLIB Income Fund remains untradeable at present, we have made available all communications to our investors when and as we get news /information from the Curator. Please do peruse all the articles available at the specialised webpage address:
http://www.stanlib.com/newsatstanlib/Pages/ABILCommsAffectedClients.aspx
We would urge you to continue monitoring our website for further updatesIf there is anything in the communications or the frequently asked questions for which you need an more explanation, please do call us.
Warm regards,
Barbara Egan on behalf of the STANLIB Team
I have sent you a response by e-mail. It is a pity that we did not manage to alleviate your concerns in November last year. We would like to bring to your attention that there was a full disclosure of the STANLIB Income Fund's holdings in African Bank on the Fund Fact Sheet at the time of the Bank's rescue. The holdings were also reported openly in our quarterly reports, both published on www.STANLIB.com. (I have sent these PDFs to you).
Although the STANLIB Income Fund remains untradeable at present, we have made available all communications to our investors when and as we get news /information from the Curator. Please do peruse all the articles available at the specialised webpage address:
http://www.stanlib.com/newsatstanlib/Pages/ABILCommsAffectedClients.aspx
We would urge you to continue monitoring our website for further updatesIf there is anything in the communications or the frequently asked questions for which you need an more explanation, please do call us.
Warm regards,
Barbara Egan on behalf of the STANLIB Team
Best regards,
STANLIB's reply21 Mar 2016, 15:46
Official
Hello Kat Botha,
I have sent you a response by e-mail. It is a pity that we did not manage to alleviate your concerns in November last year. We would like to bring to your attention that there was a full disclosure of the STANLIB Income Fund's holdings in African Bank on the Fund Fact Sheet at the time of the Bank's rescue. The holdings were also reported openly in our quarterly reports, both published on www.STANLIB.com. (I have sent these PDFs to you).
Although the STANLIB Income Fund remains untradeable at present, we have made available all communications to our investors when and as we get news /information from the Curator. Please do peruse all the articles available at the specialised webpage address:
http://www.stanlib.com/newsatstanlib/Pages/ABILCommsAffectedClients.aspx
We would urge you to continue monitoring our website for further updatesIf there is anything in the communications or the frequently asked questions for which you need an more explanation, please do call us.
Warm regards,
Barbara Egan on behalf of the STANLIB Team
I have sent you a response by e-mail. It is a pity that we did not manage to alleviate your concerns in November last year. We would like to bring to your attention that there was a full disclosure of the STANLIB Income Fund's holdings in African Bank on the Fund Fact Sheet at the time of the Bank's rescue. The holdings were also reported openly in our quarterly reports, both published on www.STANLIB.com. (I have sent these PDFs to you).
Although the STANLIB Income Fund remains untradeable at present, we have made available all communications to our investors when and as we get news /information from the Curator. Please do peruse all the articles available at the specialised webpage address:
http://www.stanlib.com/newsatstanlib/Pages/ABILCommsAffectedClients.aspx
We would urge you to continue monitoring our website for further updatesIf there is anything in the communications or the frequently asked questions for which you need an more explanation, please do call us.
Warm regards,
Barbara Egan on behalf of the STANLIB Team
Best regards,