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Told cant exit manage fund?

Discussion in 'Managed Funds & Index Funds' started by scottie5095, 9th Dec, 2010.

  1. scottie5095

    scottie5095 New Member

    Joined:
    9th Dec, 2010
    Posts:
    1
    Location:
    Adelaide SA
    Hi , Can I exit managed funds as I was wondering if these funds are still frozen. I have had money in two managed funds since 2002. My brother in law has just tried to exit a managed fund with the same company and the manager who has invested the money with a very large fund only to be told he cant remove the money as it is invested and tied up with large building projects!!!! It has been invested for many years. Very confused and annoyed ,help please.
     
  2. Johny_come_lately

    Johny_come_lately Well-Known Member

    Joined:
    1st Jul, 2009
    Posts:
    703
    Location:
    SE Queensland
    What funds? In 2008, the Government gave a $1000,000 guarantee on all bank accounts. There was a run( lots of withdrawals) on all property/mortgage funds. These funds are still frozen. CFS has decided to wind down its fund and sell all its property. This will happen over the next two years.





    Johny.