I wish I could warn everyone. It upsets me to no end to read stories like these. Let me be as crystal clear as possible for anyone reading this blog:
IF YOU HAVE MONEY IN BANK ACCOUNTS OR INVESTMENTS THAT ARE NOT GUARANTEED, INSURED, OR CANNOT BE WITHDRAWN ON A MOMENT'S NOTICE - GET IT OUT NOW AND GET IT OUT FAST. YOU STAND TO LOSE EVERYTHING IF YOU DO NOT. YOU HAVE BEEN WARNED.
One of Britain's biggest property funds was forced to shut its doors to withdrawals yesterday after the slump in commercial prices triggered panic selling by small investors.
The move prompted fears of a Northern Rock-style run on billions of pounds invested in once high-flying funds which many savers have seen as a safe haven for their pensions.
Scottish Equitable said yesterday that 129,000 small investors in its £2bn property fund will not be able to access their money for up to a year