STM’s Trafalgar Wind Up?

Seriously–is this yet another wind up? STM want to be voted as “National Public Champion”?

After International Investor’s expose of the wind up of the failed £21 millionTrafalgar Multi-Asset fund:

not many of the hundreds of victims who may stand to lose part or all of their pensions will be voting for STM. International Investment’s Helen Burggraf reported that the Trafalgar fund’s investors were advised of the wind up on 13th January 2017 by Richard Reinert of the Nascent Fund (an umbrella fund containing the Trafalgar fund).

STM, who failed to provide details about how the wind-up is likely to work, have apparently whined that they had been “unfairly singled out” as a well-known trustee because they had kept their victims “informed about the fund’s problems”

STM, whose stake in Trafalgar accounted for 75% of the total fund value, failed to answer urgent questions about their role in the victims’ impending losses in the fund which, according to International Investment was “managed by Victory Asset Management, run by two of the people involved in the Capita Oak pension scam.”

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STM claim to have over 50 “dedicated and highly-skilled” people in their pensions team and that their level of expertise has made them world leaders in the field of QROPS. Perhaps one of these wonderful people can explain why hundreds of UK-domiciled investors were transferred into a Gibraltar QROPS on the advice of an unregulated adviser who was also the Trafalgar fund manager into which 100% of these pensions were invested.

STM will surely have no trouble providing an explanation as to why victims’ pensions were 100% invested into one UCIS which was 100% invested in loans to a German property developer.