information on F.M.A

Suzphone


Joined: 10/02/2008
Posts: 50

Message Posted:
28/05/2009 09:27

Hi all

has any body had involvement with investment company FMA independent financil advisors, as we are thinking of investing in LM Australia managed performance fund,rates are 19.16% monthly. any comments please.

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
28/05/2009 10:43

i asked the same question last week and got no where



Not 1 satisfied customer was willing to recommend the same investment.



i have friends in aus who are looking into it for me.



The one thing that worried me was your cash is tied in for a year what happpens if aus goes belly up like us and uk etc ??



dosh down the pan i supppose.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
28/05/2009 10:46

If it helps.



http://www.lmaustralia.com/downloads/fund_reports/monthly_review_mpf.pdf

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
28/05/2009 10:48

http://www.istockanalyst.com/article/viewnewspaged/articleid/3243815/pageid/1

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
28/05/2009 10:49

http://www.elite-finance.com/index.php/our-products/lm-managed-performance-fund.html

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
28/05/2009 10:53

http://www.investsmart.com.au/managed-funds/LM-Cash-Performance-Fund-6511.asp





As you can see, as at the 30 April 2009 there's barely $2m dollars in the fund. That wouldn't give me a lot of confidence to invest in it.

ozankoys


Joined: 20/06/2008
Posts: 905

Message Posted:
28/05/2009 12:31

I think that if an interest rate sounds 'too good to be true' it probably is.

Northern Rock, Kaupthing, Bradford & Bingley were all paying above market rates & look what happened to them - luckily the British Govt acted to protect investors.

stellasstar1



Joined: 02/07/2008
Posts: 1519

Message Posted:
28/05/2009 15:52

My friend who went to Australia in January says the recession is really hitting hard their. He went to get work as nothing here. 6 months ago they were crying out for painters, now they have dropped them along with a lot of other type of workers(including plumbers) from the list of people they need. You know things are bad when they don't need plumbers!!!!!!!!!!!

chinaeyes


Joined: 13/02/2009
Posts: 425

Message Posted:
28/05/2009 21:10

Suzphone,Little Nige

You are so unsure about this firm just look elsewhere.When in doubt,scarper.I'm sure there are many investers with them here but just want to keep their personal business to themselves and lets face it,i for one would feel terrible if I had recommended anyone in the financial sector for you to invest in and then it goes belly up.All I know about them is the chap does raise money for charities.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
28/05/2009 21:52

sorry, it doesn't stack up...



They are returning 20%, so must be lending the money out at 30%...



the base rate in Australia is 5%, so a decent company should be able to borrow at 7%, a not so good at 10%....



why are they not borrowing in australia at way below 30% ?? - poss because local lenders are not happy ?



possibly because the investment doesn't stack up....



it seems only 5 minutes ago that FMA were saying TL investments were risky !



I certainly won't be investing with them....



Nick

bazilbrush


Joined: 29/03/2008
Posts: 404

Message Posted:
02/03/2011 14:52

Are FMA still giving a high interest rate as the last I heard they were giving 14.5%pm or 15.5%pa which is a great rate in these times.

Any comments would be appreciated.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
02/03/2011 14:59

FMA don't give any interest rate, they are not an investment bank or other institution that does. They are financial advisers. They can put you in touch with fund management companies and other investment opportunities to suit your profile based on risk/safety period of investment and amount of investment.



You can still get good rates depending on your willingness to take risks or not.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
02/03/2011 15:03

its an australian company - the base rate in australia is smilar to the UK's - so why oh why would they want to borrow money at over 20% ??



Maybe the lenders in austraia won't lend to them as they think it's too high a risk............



As uncle Percy used to say - "if it sounds too good.............."

nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
02/03/2011 16:05

Message 11



With all due respect would it not make more sense to phone someone at FMA and ask them!!!



Chris

MotoMoto


Joined: 15/02/2009
Posts: 152

Message Posted:
02/03/2011 17:25

Message 13 - when you peddle your negative drivel you really need to get your facts right!



The OZ base rate is 4.75% - whilst the UK is 0.5%...



OZ and Switzerland are joint strongest/safest investment places in the world



If OZ funds are looking to attract investment monies they have to offer compelling rates in various currencies relative to that currency's strength versus the OZ dollar



LM Fund is currently offering around 12.95% on a TL investment (I believe), and lower rates of course in Sterling and Euro's etc



I have been an investor for nearly 2 years and have absolutely no complaints to date



I agree with Chris above - give Scott or Leeann at AstuteFMA a call and ask them direct



Laurence

coffer


Joined: 13/02/2007
Posts: 292

Message Posted:
02/03/2011 17:40

Been with FMA for 4 years (various investments) , LM fund for 3 years. Always been honest in their advise and explain the risks, the rest is down to you! As someone else stated earlier, they are not a bank, only IFA (accredited) so, when they recommend, check it out on the web, its not difficult.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
02/03/2011 17:43

mess 15 - sounds great MM....



but then again so did a trip on the Titanic............

rosylee


Joined: 22/07/2010
Posts: 158

Message Posted:
02/03/2011 18:01

Totally agree with coffer...no problems to date .FMA have always spelt out the risk in such investments.your choice at the end of the day---no-one is twisting your arm.

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
02/03/2011 18:03

message 7 says it all

MotoMoto


Joined: 15/02/2009
Posts: 152

Message Posted:
02/03/2011 18:07

mess 17



If you cannot offer constructive and factual advice on a matter that is of obvious interest and ongoing concern to a lot of people both here and in UK - namely safe return on investment - why do you bother to post?



Of more concern is your potential negative influence amongst the financially illiterate such as yourself - never mind potential damage to a reputable company operating in the TRNC...



Suggest you stick to buying the Baht next time there is a revolt or attempted coup....guaranteed good return

trailfinder


Joined: 28/12/2010
Posts: 48

Message Posted:
02/03/2011 21:32

the only comment I would make is that in the UK financial advisors are strictly regulated. In the TRNC??? Let the buyer beware

Rosie64


Joined: 13/11/2010
Posts: 72

Message Posted:
03/03/2011 01:27

Does nobody remember the campaign to free the Ex pat in Alsancak who was wrongfully jailed for his involvement in a similar scheme ?

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
03/03/2011 07:00

What similar Scheme? Please don't muddy the waters with more innuendo.

AstuteFMA don't have a scheme. They are not an Investment Bank or Fund Managers they are independent financial advisers who can put you in touch with various investment opportunities.

One of which (only one of which) is the LM group scheme in Australia... one of the most heavily regulated financial markets in the world.

When the rest of the world was going for de-regulation the Australians, being a bit more savvy, decided they didn't like the idea of allowing financial institutions the ability to gamble outrageously with investors' money.

Hence, as long as the Australian company is fully compliant with their rules it is one of the safer markets to invest in.

parkview



Joined: 12/03/2009
Posts: 1123

Message Posted:
03/03/2011 11:20

Well said Groucho - I also understand that Australia are enjoying their 19th year of uninterrupted growth...



I understand that LM invest in residential and Commercial property developments, primarily in Queensland, which is the fastest growing state in Australia



LM advised my partner that none of their investments and developments were affected by the recent floods in that state

Chegwin


Joined: 24/03/2009
Posts: 775

Message Posted:
03/03/2011 11:56

And I am pretty sure that some, if not all the investments that are recommended by FMA are capital assured, but stand to be corrected.

Chegs

flyer


Joined: 07/09/2010
Posts: 74

Message Posted:
03/03/2011 14:24

Although I do not normally post on this site due to the constant negativity, I felt that it was important to assist here. I am one of the 5 fully UK qualified Financial Advisers employed at Astute FMA. We are a firm of professional Financial Advisers offering assistance to existing & new clients. We are not a bank nor tied to any other financial institution. We do NOT offer interest or touch client money. The LM fund you talk of is one of hundreds of investment funds AFMA have available and which would only be recommended if it was suitable for that individual client. I do not think that this forum should be used to discuss a financial product or service by someone with no understanding of that product or service.



Should anybody wish to discuss our products & services, I am more than happy to meet that person on a professional footing. I can be contacted at the office 815 8276 or via my mobile 0542 885 3224. Alternatively I will be at SOYZ market Sun & Wed Mornings.

Grant

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
03/03/2011 14:31

Financial advice at a market ?

flyer


Joined: 07/09/2010
Posts: 74

Message Posted:
03/03/2011 14:40

Sorry no advice available at the market! just information on our company & services.

coffer


Joined: 13/02/2007
Posts: 292

Message Posted:
03/03/2011 16:06

Dear lord there really are some prats on this site, if you don't have anything constructive to say why don't you keep quiet and let the grown ups discuss the matter.



Getting back to the subject matter. Its just like the UK or anywhere else, you pay your money and take your chances. If you want a high potential return, you have to take more risk, that's the money markets for you.



Msge 25 Chegs, I think there are more riskier investments where your capital is not entirely secure, but that's a risk that is made clear before you commit. In my experiance anyway.

Rosie64


Joined: 13/11/2010
Posts: 72

Message Posted:
03/03/2011 17:15

msg 23



“ Was the talk of the Northern part of the island: Expat Carl Clark –Derby charged: defrauding colleagues “ http://is.gd/hi9VB

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
03/03/2011 18:19

Rosie,



What the 'effing hell has this got to do with AstuteFMA?

Rosie64


Joined: 13/11/2010
Posts: 72

Message Posted:
03/03/2011 18:27

As already mentioned above...

"I think that if an interest rate sounds 'too good to be true' it probably is.

Another get rich quick scheme or not ?

No similarity ?

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
03/03/2011 18:38

Rosy65

Message 30

Please inform us all as to the outcome of that case or did you not follow it to its full conclusion?

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
03/03/2011 18:55

Re message 25, I can assure you that most ( and I do mean most probably as high as 90%) of the investments recommended by FMA and indeed other financial advisers are not capital assured. This statement is fact.



Re message 24 you state that LM invest in residential and Commercial property developments, primarily in Queensland, which is the fastest growing state in Australia. I don't doubt this fact but suggest that you look at what happened in Eire with property, there was a crash of mega proportions.

doggiesteve


Joined: 06/10/2010
Posts: 265

Message Posted:
03/03/2011 19:05

probably as high as 90%...........This statement is fact.



LONG LIVE AMBIVALANCE

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
03/03/2011 20:28

Rosie,



None whatsoever...



Peter,



Eire is not Australia. different rules, different property market and none of the LM Fund investments are in US toxic debt or sub-prime mortgages.

Rosie64


Joined: 13/11/2010
Posts: 72

Message Posted:
03/03/2011 23:30

AJ So what was the outcome of the case ?



Groucho So an investment scheme by trained UK advisors, not regulated by the FSA, is safe ?

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
04/03/2011 07:40

FMA don't have any scheme, they are not the investment... how many times do we need to tell you, you are talking total twaddle and damaging the good name of a well respected company.



Advisers are just that, you can take their advice or not. You need to research the investment they advise and satisfy yourself that the risk is manageable and reasonable given the probable returns and your ability to withstand any unforeseen changes in world economies.



With all investments there is some element of risk - even in banks. Remember nobody thought they would lose a cent when they invested in many blue-chip institutions and how wrong that was...



However to try and link AstuteFMA to a rogue individual who duped people he knew is scurrilous to say the least and possibly actionable in a court of law. Therefore I suggest that it might be wise for you cease your prattling.

Tatum1


Joined: 23/03/2009
Posts: 337

Message Posted:
04/03/2011 08:24

Hi Everyone



Unfortunately we do not have any capital to invest ...... but if we did we would not hesitate to invest with FMA.



We have several friends who are in this fortunate position and are doing very well.



I suggest that it is like most things in life you do the checks and then make your decision. The people who run FMA are well informed people and as I said before we wouldn't hesitate to invest if we had the capital.

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
04/03/2011 08:55

If only the TRNC government invested their $4bn budget through FMA they wouldn't need Turkey's financial support. And all of the UK's financial problems could be solved if the ConDems borrowed $100bn at 5% and invested through the FMA...

Rosie64


Joined: 13/11/2010
Posts: 72

Message Posted:
04/03/2011 11:45

So this Australian investment opportunity has nothing to do with other high risk investment advice originating in North Cyprus, that's good to know.



So who regulates the advice given in this type of investment ?



Why is it when someone asks an awkward question people go on the defensive ?



The original question, a very good one, has still gone unanswered, except to say “investor beware”.

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
04/03/2011 15:20

There is an article in Cyprus Star today with Scott Kennedy of FMA asking all the questions to himself and having some difficult answering some of them. E.g. "do you hold client money?" The answer to which is "you should not give money directly to a financial adviser; IFA's (sic) do not hold client money. This is very important and safeguards against theft of fraud!" Well do you? Another question is "how many advisers do you have?" and the number is... ??? I hope their financial advice is clearer than this.

AstuteFMA


Joined: 04/03/2011
Posts: 8

Message Posted:
04/03/2011 16:51

For the truth about Astute FMA go to http://www.cyprus44.com/forums/57510.asp .

Harold2555



Joined: 19/04/2008
Posts: 1139

Message Posted:
04/03/2011 19:45

This thread is now closed.



Follow the link to the other thread. This thread is too full of uninformed conjecture and scaremongering.



H