The AIGO Fund (Alternative Investment Growth Opportunities) was promoted as an investment into natural resources and was managed by Fidelis Global Asset Management.
It was a ‘loan note’ property investment scheme in which investors were promised high returns through annual coupons paid as cash back into their SIPPS.
AIGO Funds (AIGO Holdings Plc) became insolvent as a result of SIPP Provider Guinness Mahon issuing a petition to wind up their business. This was after they failed to issue the returns (coupons) to investors and fulfil their redemption obligations.
Many people who invested in the AIGO Fund through their SIPP – Self Invested Personal Pension – did so as a result of pension transfer advice.
Notable firms who actively advised people to invest in AIGO were Bank House Investment Management, Henderson Carter Associates and Financial Page. Unfortunately, this advice was not suitable for many investors and as a result the FSCS has already paid out more than 5.7m in compensation.
All of the above are potential red flags to pension mis-selling. A financial adviser has a duty to ensure all recommendations are suitable to your needs and attitude, if for whatever reason they failed to do this, you may have been mis-sold.
If you received advice to invest in the AIGO Fund, then you may have been mis-sold and could have a case to claim compensation.
Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate that mis-selling may have happened.
Our assessment is free and there’s absolutely no obligation to use our service if you have case.
You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.
It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.