Unit trust matters

[1sickpuppy]

Hiya people out there was wondering if any of you know what will happen to the unit trust you ask the bank to buy on your behalf and the bank goes belly up?
Let me give you an example lets say I were to ask bank A to buy for me BRIC, Shroulders middle east and Temperton europe. Then after a few months the bank close down what will happen to those unit trust that I bought. Can anybody out there clearify please? Someone told me it will go up in smoke others tell me that I will receive a notification of who will take charge of the unit trust until now I am still blurr

 

[Zombie]

http://www.moneysense.gov.sg/resource/publications/guides_publications/MoneySENSE_UT_Guide.pdf

 

[cheekenpie]

Hiya people out there was wondering if any of you know what will happen to the unit trust you ask the bank to buy on your behalf and the bank goes belly up?
Let me give you an example lets say I were to ask bank A to buy for me BRIC, Shroulders middle east and Temperton europe. Then after a few months the bank close down what will happen to those unit trust that I bought. Can anybody out there clearify please? Someone told me it will go up in smoke others tell me that I will receive a notification of who will take charge of the unit trust until now I am still blurr

Not true.

Unless of course the fund manager is from the bank you asked to buy for u and they got bankrupted. You can always transfer your holdings to another institution

 

[1sickpuppy]

Ah I C thanks for the info guys