Wazua
»
Investor
»
Bonds
»
Gencap hela fund
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
|
|
|
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
|
|
|
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.”
|
|
|
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.
|
|
|
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.
|
|
|
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.
|
|
|
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.
|
|
|
Rank: Elder Joined: 9/15/2006 Posts: 3,901
|
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
|
|
|
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
|
|
|
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.
|
|
|
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
|
jerry wrote: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? Stop asking blonde-ish questions You bought OTC shares but you don't known where they are? Who is supposed to know on your behalf? Life is short. Live passionately.
|
|
|
Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
|
sparkly wrote:jerry wrote: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? Stop asking blonde-ish questions You bought OTC shares but you don't known where they are? Who is supposed to know on your behalf?  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
|
|
|
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
|
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. You are right...the money was invested with Chase the Bank    possunt quia posse videntur
|
|
|
Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
|
sparkly wrote:jerry wrote: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? Stop asking blonde-ish questions You bought OTC shares but you don't known where they are? Who is supposed to know on your behalf? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
|
|
|
Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
|
maka wrote: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. You are right...the money was invested with Chase the Bank I too thought so...if you invest in money market, the fund always invest the money in high yielding FDR and TBills. Now GenCap having a custodial account at Chase Bank means that they collect all the client money at put it at an account in Chase Bank, once the money is "big" enough to invest, they look for a bank offering the best rates on fixed deposits at that time...that bank could have easily been Chase Bank since I am told Chase was giving upwards of 13.5%, Imperial giving 13% while TBills was 9.5% and the tier 1 banks were averaging at 5%...so pole sana. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
|
|
|
Rank: Member Joined: 2/15/2010 Posts: 117 Location: Kenya
|
It has been months now and it turns out Chase bank customers were better off than those of us who were hela fund account holders since we still cant access our money.Somebody should really get C.M.A to first give us a status report stating if our cash is still safe and if so a time line on when we can expect to access it like they did for chase bank depositors.
|
|
|
Rank: Elder Joined: 2/16/2007 Posts: 2,114
|
DtheK wrote:It has been months now and it turns out Chase bank customers were better off than those of us who were hela fund account holders since we still cant access our money.Somebody should really get C.M.A to first give us a status report stating if our cash is still safe and if so a time line on when we can expect to access it like they did for chase bank depositors. Pole sana..Did they send the May statements?These events have been an eye opener ,ie its not always better to invest with the highest payers..
|
|
|
Rank: Member Joined: 3/3/2016 Posts: 132
|
DtheK wrote:It has been months now and it turns out Chase bank customers were better off than those of us who were hela fund account holders since we still cant access our money.Somebody should really get C.M.A to first give us a status report stating if our cash is still safe and if so a time line on when we can expect to access it like they did for chase bank depositors. Advantage of pooling funds is better rates. But in this situation, you end up with a large single depositor. Would be terrible but fascinating if the money market funds (short term, safe investment) ended up as a shareholder in Chase (long long term, risky asset). That's black magic.
|
|
|
Rank: Member Joined: 9/9/2015 Posts: 233
|
sparkly wrote:jerry wrote: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? Stop asking blonde-ish questions You bought OTC shares but you don't known where they are? Who is supposed to know on your behalf? "Buy when there's blood in the streets, even if the blood is your own."
|
|
|
Rank: Member Joined: 2/15/2010 Posts: 117 Location: Kenya
|
The latest "Dear Client,
We refer to our previous announcement on 8th June 2016 on the upcoming Unit Trust AGM to be held on 28th June 2016 at Goan Gymkhana from 8.30AM.
Kindly note there has been an amendment to the AGM Notice to incorporate the current position of the GenCap Unit Trust Funds.
In this regard, a resolution to ammend the Trust Deed to allow for partial redemption of units by the Fund Manager will be tabled for adoption by Unit Holders at the AGM.
Attached please find the amended AGM Notice/agenda, proxy form and the resolution to be passed at the AGM.
Thank you for your patience and support.
Regards,
"
Will try to attend
|
|
|
Wazua
»
Investor
»
Bonds
»
Gencap hela fund
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|