Exeter Fund Managers Ltd Information
6th March 2009
The Initial Questionnaire and Factsheet
The aim of the Initial Questionnaire is to help you find out whether you have a claim we may be able to help with.
We consider a number of factors when assessing a splits claim. One of the most important factors we take into account is the date at which you sold your investment. If you sold your Exeter Fund managers Limited investment before 1 April 2001 you are unlikely to have a claim we can help with. The questionnaire will help us to decide whether your claim is likely to be successful or not, based on this date.
If you complete and return the questionnaire and the information you provide indicates that you may have a claim, we will send you our full application form. You will need to complete this application form and return it to us to make a claim for compensation.
Effect of a claim under the administrators Scheme of Arrangement
Some investors may have already made a claim under the administrators Scheme of Arrangement for Exeter Fund Managers Limited (In Administration) ("EFML"), or may have indicated their intention to do so. If you are in this position we should have sent you an application form. If you have not received an application form, please contact us.
FSCS can pay compensation only for financial loss, and only if nobody else has paid your claim in full. We will liaise with the administrators and generally, we will deduct any amount received by you under the Scheme of Arrangement from the amount of compensation we pay.
If the FSCS is able to pay compensation prior to the administrators completing their work, then the FSCS will pay the full amount of compensation and seek to recover that amount through the Scheme of Arrangement.
How we calculate compensation
We will calculate how much compensation we can pay for eligible claims using a 'monies in-monies out' calculation.
This means we will:
- take the value of the investment at the date your claim against EFML arises (this might not be the date you bought your investment),
- add an interest equivalent amount (known as the FSCS rate of return) up to a specified date (known as the quantification date), and
- deduct any income received and the proceeds of full or part sales of the holding.
The result of that calculation is the amount of compensation due.
The quantification date will normally be the date the FSCS declared EFML in default (1 May 2007).