RE: John BondAnother thing Mr Bond,
My understanding is that most of these segretated funds are repaid to clients over 25 years
The first 5 years nothing is repaid, but after then a guaranteed withdrawal is paid to the client as annuity
until the age of 95 years.( clients have to 55 years old to enrol)
Meanwhile these funds are growing and growing so there is no way MFC can lose
and there are collecting all the handling fees in the meantime
The mark to market reporting of the principals... short time is what is causing the write off and ons
Only my understanding