If you are invested in the Aberdeen Asset Management Progressive Growth Unit Trust, this story is for you.
The Aberdeen product was sold with the slogan "the one year old who lets you sleep at night" but has halved in value over the last year. The main investments for the fund were zero dividend preference shares of split capital unit trusts.
The industry Regulator, the Financial Services Authority is investigating the split capital unit trust sector after many people claimed to have lost money. Aberdeen's Chief Executive appears to be on the side of the policyholders and stated that his company had an obligation to make sure investors had a long term future in the Progressive Growth Fund.
We have currently not arranged any investments in split capital trusts, however if you are invested in this product or similar, via another adviser, and need help, please do get in touch with us and we will gladly see what we can do.