What do i get if i terminate my contract with ici stratequity?

Question

I'm a subscriber to the stratequity wealth creator plan , thinking of canceling my subscription because i don't see the investment value,will i get anything from the money i was contributing for a year now?

Answer 1

You are certainly correct in not seeing the investment value.  

According to their web site at

http://www.ici.co.za/index.php?option=3&...

HOW LONG IS THE CONTRACT?

Flexibility is one of the key characteristics of the product. There is no minimum contractual term and you may stop contributing at any time by giving StratEquity written notice.



WHERE CAN I SEE THE VALUE OF MY SHARES?

Each Empowerment Investment’s share price is updated on a daily basis on the StratEquity website. Investor clients receive electronic updates on their investments and also have access Client Service Centre support.

WHEN AND HOW CAN I SELL MY SHARES?

StratEquity manages the investments on your behalf and will buy and sell into and out of investments instruments held by the Empowerment Investments to optimise return. You can sell some or all of your shares of the StratEquity Empowerment Investment at any time by instructing StratEquity. StratEquity will sell your shares back to the Empowerment Investment. However, it is important to note that the value of your shares will fluctuate based on the performance of the underlying investments and the onus rests with you to monitor the value of your Empowerment Investment shares on the StratEquity website prior to selling, in order to ensure that it is a beneficial time to sell. Contact the StratEquity Client Service Centre for assistance when you want to sell your shares. Proceeds from the sale of your shares will be transferred to your bank account after a minimum of 7 working days from the date of instruction to sell.

So they claim you can quit anytime and get what’s left of your money back in about a week.

Good Luck