Author Topic: HELP: Is PRU Life UK in trouble?  (Read 15607 times)

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milo012007

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HELP: Is PRU Life UK in trouble?
« on: Jul 09, 2008, 03:24 PM »
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I need some info with PRU life UK.  I invested in PRU Life UK's Bond Fund - USD in 2005 and Bond Fund - PHP just last year.  After my PHP bond fund turned 1 year, i was forced to withdraw my investment since i lost more than 25% of the fund but I still left my USD bond fund with them.

Now, based on the performance of my USD bond fund, it would seem that i am losing 1.3% per week! O am really frustrated because when i talk to their call center (8875433, 8570707, 8848484), they could not answer my questions like where are they investing my money? they said that they are investing in stocks but it's my understanding that only a small % of the fund is invested in stocks. they could not answer where exactly they invest the money.  I dont want to wait 1 year for their delayed yearly report to get my answers!

It didn't help that my agent left the country and the contact person she gave, another agent, is not reachable most of the time and when i get the chance to talk to her, does not get back to me as per our agreement for the answers to my questions.

I also got some info on the news yesterday that an investor connected with PRU LIFE Uk is being investigated in connection with the Fertilizer Scam.

Please help me, do I pull out my USD investment with PRU LIFE UK? It seems that all of the gains that I got last 3 years from my USD bon fund has been wiped out already. I just recently did a top up, can I demand to cancel my top up given the lousy service that they are providing me?  I was surprised that they deducted 15% initial fee from my top up which is very different from the 5% that they advertise.  And again, their call center or agents could not answer me why the deductions amounted to 15%!

For the seasoned investors, Please help me with your important advise.. =(

       
   

freedomfighter

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Re: HELP: Is PRU Life UK in trouble?
« Reply #1 on: Jul 09, 2008, 04:52 PM »
« Last Edit: Jul 09, 2008, 05:00 PM by freedomfighter »
The secret to achieving financial freedom is to build and create "MSI" or "Multiple Sources of Income!"

SirYuri90

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Re: HELP: Is PRU Life UK in trouble?
« Reply #2 on: Jul 09, 2008, 06:01 PM »
i suggest to try finding an alternative...
"Discipline is the basic set of tools we require to solve life's problems. Without discipline we can solve nothing. With only some discipline we can solve only some problems. With total disci

voltes5

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Re: HELP: Is PRU Life UK in trouble?
« Reply #3 on: Jul 09, 2008, 07:51 PM »
maybe you invested it in an equity laced vul, i think every month they deduct from you premiums for the insurance part. maybe what your looking for is a mutual fund or uitf investment.
"In this country you gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the women."

freedomfighter

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Re: HELP: Is PRU Life UK in trouble?
« Reply #4 on: Jul 09, 2008, 08:13 PM »
« Last Edit: Jul 09, 2008, 08:28 PM by freedomfighter »
The secret to achieving financial freedom is to build and create "MSI" or "Multiple Sources of Income!"

edwinfriend

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Re: HELP: Is PRU Life UK in trouble?
« Reply #5 on: Jul 10, 2008, 10:31 AM »

bauer

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Re: HELP: Is PRU Life UK in trouble?
« Reply #6 on: Jul 11, 2008, 01:35 PM »
milo,

mukhang tama si voltes5, baka naman mutual fund type investment yan na may kasamang insurance.  pag may insurance talaga, may premium payments. baka yun ang ibinabawas sa account mo.  kung wala na ang agent mo, then check your policy or contract. read all the terms (specially small fonts).

ok naman ang prulife pati rin sunlife.

kung uitf type of funds naman yan, normally, and bond fund ay maliit ang earnings pero i dont think na mag negative sya kasi when you say bonds (its either government or corporate loans) unless puro corpo loans ang investment at nalugi ang kumpanya kaya bumaba ang unit value.

again pls check all your documents given by prulife UK
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foolcha

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Re: HELP: Is PRU Life UK in trouble?
« Reply #7 on: Jul 24, 2008, 08:43 AM »

milo,

kung uitf type of funds naman yan, normally, and bond fund ay maliit ang earnings pero i dont think na mag negative sya kasi when you say bonds (its either government or corporate loans) unless puro corpo loans ang investment at nalugi ang kumpanya kaya bumaba ang unit value.

again pls check all your documents given by prulife UK


No, it doesn't work that way with bonds or any other fixed income investments. UITF/Mutual Funds/VUL uses MTM valuation. So if you are invested in a bond/money market fund, the return of the fund will be dependent on the interest rates, if interest rate went up it will have a negative effect on the fund.
« Last Edit: Jul 24, 2008, 08:44 AM by foolcha »

pulidowinstone

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Re: HELP: Is PRU Life UK in trouble?
« Reply #8 on: Aug 14, 2008, 04:10 PM »
Milo,

I suggest you wait for the annual report to policy holders.  There you will see the Portfolio Statement of the Prulink USD Bond Fund.  You will see the breakdown of the specific dollar bonds PRULIFE UK invests in.  

If you see the portfolio profile, it is invested in US Dollar Bond accounts of the Philippine Gov't, Landbank, Development Bank, US treasury and PLDT.

88% are invested in Phil Gov't Bonds, 8% in Phil. Quasi Gov't Bonds, 1% in US Gov't Bonds, 1% Cash, 2% Phil. Corp. bonds.

So if the Call center agents would reply you with this details, you will be left hanging and confused with all this technical stuff!

The bottom line is that your money is invested in Dollar Bond Funds.  What is happening to Pru Life UK, is common to all investments of this type in all companies engaged in VUL products, given the economic situation of the US right now.

And VUL products are usually medium to long term investments, since you said you only invested last year, it was best to make you investment recover since bonds are the safest compared to equities.  

It is best to contact any Pru Life Branch near you and request for an agent that could best serve you.
Posted on: Aug 14, 2008, 04:02 PM
Milo,

Visit the government website : www.insurance.gov.ph.  

There you will see the financial standings and statistics of insurance companies. :hello:

bauer

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Re: HELP: Is PRU Life UK in trouble?
« Reply #9 on: Aug 19, 2008, 03:42 PM »
foolcha,

you are right mark to market ang bond and fixed income fund. hindi ko lang maintindihan kung bakit kailangang bumaba nang husto or mag negative ang returns mo sa daily price per unit.  pero yung principle na "when interest are up, bond prices goes down" e tama rin. iba lang ang naisip kong "tamang computation".  

anyway, that's why i am now avoiding uitf na bonds or fixed income funds precisely for the said reasons.
join me on twitter @ bauerfilipino

mikedg

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Re: HELP: Is PRU Life UK in trouble?
« Reply #10 on: Sep 13, 2008, 07:56 PM »

foolcha,

you are right mark to market ang bond and fixed income fund. hindi ko lang maintindihan kung bakit kailangang bumaba nang husto or mag negative ang returns mo sa daily price per unit.  pero yung principle na "when interest are up, bond prices goes down" e tama rin. iba lang ang naisip kong "tamang computation".  

anyway, that's why i am now avoiding uitf na bonds or fixed income funds precisely for the said reasons.


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ianiiii

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Re: HELP: Is PRU Life UK in trouble?
« Reply #11 on: Oct 10, 2008, 02:58 PM »
why withdraw when the market is down unless you need it badly... lahat nman pataas eh in the long term kahit mga equities.

 


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