woolley Posted November 18, 2016 Share Posted November 18, 2016 Screenshot 2016-11-18 at 07.36.33.png OK, so the FTSE100 didn't do so well 2015-16, but isn't avoiding such losses what the investment managers get paid for? What a lovely idea. These fellas do well if they keep up with the FTSE. Some do better and some actually do a lot worse. No. The object of the exercise is to get an annual dip into your pot. All other considerations are secondary! BS One thing the Island does very well is manage the reserves and manage those who invest the money; there are some competent people in the Treasury behind this. Indeed. I was talking in general about fund managers. I recognise IOM Govt investments have been extremely well managed over the years. Better managed than the government itself in fact. Link to comment Share on other sites More sharing options...
John Wright Posted November 18, 2016 Share Posted November 18, 2016 so that was 31 March figure. What is the figure for today. It should have made up the losses. I suspect that Government has a mix of bonds and equities and that not all equities are FTSE100. The other FTSE indices have done better than the 100 over the last few months Link to comment Share on other sites More sharing options...
GD4ELI Posted November 18, 2016 Share Posted November 18, 2016 Indeed. I was talking in general about fund managers. I recognise IOM Govt investments have been extremely well managed over the years. Better managed than the government itself in fact. Nice save Link to comment Share on other sites More sharing options...
Donald Trumps Posted November 18, 2016 Share Posted November 18, 2016 Some of these funds need to be invested in renewable energy generation Unless there's to be a bond issue of some sort Link to comment Share on other sites More sharing options...
woolley Posted November 18, 2016 Share Posted November 18, 2016 Yeah. Maybe we could have invested it in Mike Proffit's Renewable Energy Holdings. Oh, hang on........ Link to comment Share on other sites More sharing options...
Donald Trumps Posted November 18, 2016 Share Posted November 18, 2016 Invest in the islands renewable energy resources, not someone else's Link to comment Share on other sites More sharing options...
Albert Tatlock Posted November 19, 2016 Share Posted November 19, 2016 Paying off the illegal loan at the MEA would be more preferable, instead of giving the false assumption we have £480+ million we don't really have. Meanwhile, on pieces of paper, the imaginary 'reserves' can still be plundered by government worker pensions, while electricity consumers pay through the nose for electricity, and through the arse for a shit to help them plunder the pot longer. The public will never see any advantage from the reserves, they are not there for the likes of you or me. Link to comment Share on other sites More sharing options...
Non-Believer Posted November 19, 2016 Share Posted November 19, 2016 Alf Cannan now states (P8 of Indy) that MUA debt now stands at £570M. It ain't going down... Link to comment Share on other sites More sharing options...
notwell Posted November 19, 2016 Share Posted November 19, 2016 I thought the bulk of the MEA loan was actually owed to Treasury rather than external third parties? Link to comment Share on other sites More sharing options...
NoTail Posted November 19, 2016 Share Posted November 19, 2016 That would be good Link to comment Share on other sites More sharing options...
notwell Posted November 19, 2016 Share Posted November 19, 2016 From memory it is. Which makes this all a bit of a paper exercise IMHO. A government owned department owes the government money. Or put another way the MUA customers (the tax payers) owe the tax payer. As it stands I'm not sure how we can argue about reserves and the debt the MUA has because one has an impact on the other. Link to comment Share on other sites More sharing options...
gettafa Posted November 19, 2016 Share Posted November 19, 2016 I think there are some knackers need to be strung up about the illegal MEA loans/debt. But it looks like everyone involved has come out of it smelling of roses with their pockets and mouths stuffed with gold. Link to comment Share on other sites More sharing options...
quilp Posted November 19, 2016 Share Posted November 19, 2016 To be fair, who judged it actually, 'illegal'? A court of law? Link to comment Share on other sites More sharing options...
asitis Posted November 19, 2016 Share Posted November 19, 2016 To be fair, who judged it actually, 'illegal'? A court of law? Wasn't it one of those pesky illegal things, which later became legal and was no longer pesky !! Link to comment Share on other sites More sharing options...
Albert Tatlock Posted November 19, 2016 Share Posted November 19, 2016 According to this Guardian story..."It is understood that the government's external auditors, KPMG, refused to sign off the last set of accounts because the loans may have been illegal." https://www.google.co.uk/amp/s/amp.theguardian.com/business/2005/jun/30/11 Link to comment Share on other sites More sharing options...
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