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Gencap hela fund
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pyrex
#1 Posted : Monday, April 11, 2016 3:01:18 PM
Rank: Member

Joined: 12/11/2006
Posts: 14
Dear Wazuans,
I am seeking advice on investment i made in Genghis Capital(Sister company to Chase Bank) hela fund their Money Market fund.
I have talked to the investment advisor who assures me the investment is safe as chase bank was only the custodian.
Checked CMA website and they equally state the investment is safe.
Just seeking assurance from Wazua colleagues who may also be suffering the same stress
Great day
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maka
#2 Posted : Monday, April 11, 2016 8:34:19 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
pyrex wrote:
Dear Wazuans,
I am seeking advice on investment i made in Genghis Capital(Sister company to Chase Bank) hela fund their Money Market fund.
I have talked to the investment advisor who assures me the investment is safe as chase bank was only the custodian.
Checked CMA website and they equally state the investment is safe.
Just seeking assurance from Wazua colleagues who may also be suffering the same stress
Great day


Pole...
possunt quia posse videntur
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Spikes
#3 Posted : Monday, April 11, 2016 9:01:21 PM
Rank: Elder

Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
maka wrote:
pyrex wrote:
Dear Wazuans,
I am seeking advice on investment i made in Genghis Capital(Sister company to Chase Bank) hela fund their Money Market fund.
I have talked to the investment advisor who assures me the investment is safe as chase bank was only the custodian.
Checked CMA website and they equally state the investment is safe.
Just seeking assurance from Wazua colleagues who may also be suffering the same stress
Great day


Pole...


Why pole as the investment is safe?
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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sparkly
#4 Posted : Monday, April 11, 2016 9:38:46 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
pyrex wrote:
Dear Wazuans,
I am seeking advice on investment i made in Genghis Capital(Sister company to Chase Bank) hela fund their Money Market fund.
I have talked to the investment advisor who assures me the investment is safe as chase bank was only the custodian.
Checked CMA website and they equally state the investment is safe.
Just seeking assurance from Wazua colleagues who may also be suffering the same stress
Great day


Theoretically safe but nothing is really safe

Do your research and report here
Life is short. Live passionately.
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instinct
#5 Posted : Monday, April 11, 2016 9:44:24 PM
Rank: Member

Joined: 8/17/2007
Posts: 294
sparkly wrote:
pyrex wrote:
Dear Wazuans,
I am seeking advice on investment i made in Genghis Capital(Sister company to Chase Bank) hela fund their Money Market fund.
I have talked to the investment advisor who assures me the investment is safe as chase bank was only the custodian.
Checked CMA website and they equally state the investment is safe.
Just seeking assurance from Wazua colleagues who may also be suffering the same stress
Great day


Theoretically safe but nothing is really safe

Do your research and report here



pyrex, assurances from regulators are not worth the paper they are printed on. hela fund invests in high yielding fixed deposits with small banks. chances that gencap funds were invested in chase bank are 9/10. id advice you liquidate and transfer to another fund.
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sparkly
#6 Posted : Monday, April 11, 2016 10:05:17 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
instinct wrote:
sparkly wrote:
pyrex wrote:
Dear Wazuans,
I am seeking advice on investment i made in Genghis Capital(Sister company to Chase Bank) hela fund their Money Market fund.
I have talked to the investment advisor who assures me the investment is safe as chase bank was only the custodian.
Checked CMA website and they equally state the investment is safe.
Just seeking assurance from Wazua colleagues who may also be suffering the same stress
Great day


Theoretically safe but nothing is really safe

Do your research and report here



pyrex, assurances from regulators are not worth the paper they are printed on. hela fund invests in high yielding fixed deposits with small banks. chances that gencap funds were invested in chase bank are 9/10. id advice you liquidate and transfer to another fund.


@pyrex take the advice ^^ it's free at Wazua but pricey elsewhere. all the best
Life is short. Live passionately.
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jerry
#7 Posted : Monday, April 11, 2016 10:09:38 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
I equally have UAP shares with GengHis that could be unsafe.
The opposite of courage is not cowardice, it's conformity.
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muganda
#8 Posted : Monday, April 11, 2016 10:17:06 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
I saw this Wazua tweet. Affiliates should be better off than Chase Bank. Custodial assets should not comprise distributable assets in the case of liquidation, more so if separately identifiable.

Holders of normal securities in their names are protected by CDSC.

The other depositors look like they should have some respite in the coming weeks
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instinct
#9 Posted : Monday, April 11, 2016 10:19:39 PM
Rank: Member

Joined: 8/17/2007
Posts: 294
jerry wrote:
I equally have UAP shares with GengHis that could be unsafe.


shares are held at CDSC and are therefore safe
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jerry
#10 Posted : Monday, April 11, 2016 10:34:29 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
instinct wrote:
jerry wrote:
I equally have UAP shares with GengHis that could be unsafe.


shares are held at CDSC and are therefore safe

I had already given a sale order although no one is willing to buy these OTC shares. Are OTC shares under CDSC?
The opposite of courage is not cowardice, it's conformity.
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