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A deal too good to be fair?

Clive’s fund manager was closing down one of its investment funds, meaning Clive had to move his savings. The fund manager offered Clive reduced fees if he moved his money to another one of its funds. Clive thought this deal was anti-competitive and unfair.

Transfer not actioned

Transferring funds from one fund to another resulted in loss. Was the loss was caused by the consumer’s own mistake or by the fund manager’s error?

Troublesome Transfer Tariff

Hilary transferred her UK pension out of the UK and into a qualifying NZ superannuation scheme with Everest. Hilary has been with Everest for two years and becomes fed up with the scheme’s charges. When Hilary decides to transfer she was charged a transfer fee of 6% of her savings. Hilary felt this fee was unreasonable. We looked into what a fair fee would be.

Forward pricing and a late instruction

Justin and Nicole ask for $350,000 to be transferred from their international funds to their cash funds and expect the unit price to be applied to be that on the day of their instruction. The unit price applied is that for the day after their instruction and they complained they suffered a loss as a result.