My father left me some money in a trust fund to which I am entitled to receive interest. I am looking for the best rate of interest from a bank or Building Society but it seems only some banks & B.Socs have suitable accounts for such Trust type accounts. Can someone help please and help me find where to find the correct type of account?
2007-02-08 09:26:07 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Well the best rate of return to come from investments is not going to come from a bank, might i suggest something thats unorthodox if you have a substantial amount you would like to invest you can become whats called an angel investor where you can get 10, 15, or 20% return on your investment or invest portions into different mutual fund investment houses where you would have a diversified stock portfolio and since it is a trust fund that your money is located in i suggest you pick a very old investment house if you want to utilize that option like J. P. Morgan, Chase manhatten, or Goldmen & Saachs because they have alot of experience in dealing with trusts. Good luck & Godspeed.
2007-02-08 09:55:22 · answer #1 · answered by http://intnlfinderspecs.zip.io 2 · 0⤊ 0⤋
The trustees can invest the money as it is a duty of care for them to get the best return. Bank accounts are the worst type of investment as they will always pay a low rate of return. You could contact a Senior Financial Planning Manager at Lloyds TSB as they specialise in Trustee Investments.
2007-02-08 17:36:51 · answer #2 · answered by Shareholder 1 · 0⤊ 0⤋
Get in touch with the trustees and ask them what concerns you have. Normally the decision where to invest is up to them, not you, but they are supposed to take your wishes into account.
In investment, the higher the return, the higher is the risk. Bank deposit, or money market interest of 5%-6% is not bad, given their absolute safety. In the last 5 years, returns from the average mutual fund invested in US or UK stock markets have been pitiful.
If I were you and the amount of money were sufficient, I would tell the trustees I wished them to invest in property and if not, why not.
2007-02-08 18:57:23 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Depending on your age or the stipulations of your trust, you may not be able to control the investments. A person should have been appointed to do so, i.e. the Trustee, a Board of Directors, etc. Have you looked into this aspect yet?
2007-02-08 17:35:43 · answer #4 · answered by codenamex_47 3 · 0⤊ 0⤋
Contact an organisation with a website "Money Advice and Budgeting Services"
2007-02-08 18:01:39 · answer #5 · answered by Tamart 6 · 0⤊ 0⤋