What happens if a fund manager goes bust?
15 September 2008, 01:23 PM
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What happens if a fund manager goes bust?
I have a small investment in a Blackrock fund (Gold & General) that has or had something to do with Merrill Lynch. Now Merrill Lynch are being taken over by Bank of Amercia.
However, what happens if you have investments with an investment bank or fund manager that goes bust? I know there is some Financial Service Compensation scheme for stockbrokers, but how would this work?
I'm happy enough to make losses or gains on my own investment decisions, but I don't want a valuable underlying investment to be wiped out because the people managing it go bust.
How does it work?
However, what happens if you have investments with an investment bank or fund manager that goes bust? I know there is some Financial Service Compensation scheme for stockbrokers, but how would this work?
I'm happy enough to make losses or gains on my own investment decisions, but I don't want a valuable underlying investment to be wiped out because the people managing it go bust.
How does it work?
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