My pension savings had all been automatically transferred to [previously] safe funds.Count Steer wrote: ↑Mon Aug 14, 2023 4:49 pmIs that in the 'defensive' funds? If so, that's what got stuffed by the financial wizards that got into 10 and 11 Downing Street for a few weeks and decided to turn the financial world on its head. It's been an 'interesting' year or so but you're paying them to know how to deal with it. A good fund manager can make money in a downturn but tbh nobody alive has seen what just happened before.Dodgy69 wrote: ↑Mon Aug 14, 2023 4:18 pm Update...my pension fund managers are shite.
Nearly 18 months in now and it hasn't grown a penny. Infact, today it's down 12k, it has been down 24k. Do I stick or twist into something that will make me money. Seems to me these diversified portfolio's managed for you don't like an unsettled climate, but I reckon an unsettled climate is what we've got for the foreseeable.
Any thoughts ???
the 'low risk' bonds market got completely stuffed by the financial kamikaze twins in a few weeks. (Now she has the nerve to give 'honours' to the genii that helped her do it).
They lost about 1/4-1/3 of their value.
The advice I had was:
- if you don't need the money now, leave it where it is
- hope that the value will increase
- monitor the value, take a view on what is acceptable
Luckily for me, I had some years in a final salary scheme.