iainz
Posts: 26
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Post by iainz on Aug 1, 2023 15:37:01 GMT
Good news, claim upheld
Bad news, no compensation, at least not at the moment because:
They count the "book value" (original investment) of investments as the present value, i.e. if you invested in a loan and it bombed, that's not counted as a loss, nor is the 25% retention, at least for now.
However, the book value is just a placeholder in the calc, once the true end value of the loans are known, say when things are finally wound up, they can look at again
Also, I transferred my portfolio to another provider in specie, they count all withdrawals from both as a plus for me, but only count contributions to Greyfriars. But some withdrawals are from the original Greyfriars contribution, some withdrawals are from the contribution to the Other provider.
Thier calc goes:
Loss to be compensated = Total contributions in to Greyfriars - all withdrawals for all time - book value
Which for most will be a negative number, so no compo even if you lost money.
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