BlackRock, Schroders hit property investors with restrictions to stem pension client exodus

FNLondon ^ | 12/1/22 | David Ricketts

[Worldtraveler once upon a time]

It seems sadly amusing. People trust other people to hold their money in some "fund." No actual oversight. Just the appearance of it, because that is not something one can check.

Then the "trust" in a "fund" which hasn't got the "funds" to allow an investor to withdraw says "continue to trust us" as we "restrict" access to those funds.

What has grown up in the last decades has been a plethora of "funds" many of which are likely mostly out of funds. Like the imaginary money sold as cryptocurrency, those operating these schemes convert the imaginary in to real when these "managers" buy real property for themselves. Ponzi schemes abound. :P" If you cannot have access to "your" investment, in whole or part, it is to that degree no longer yours. Trust is not currency, and hope is not a strategy.

[dpetty121263]

The time is speeding up, I predict by 2024 a massive move to One World Currency.

[glorgau]

It’s a pain, but ya gotta read those prospectuses.

[MeganC]

They don’t have the cash to cover their deposits. This will not end well.