Hi folks, as i understand you are talking about the provident fund managed by Fidelity or Templeton. We at QR have had hot discussions about it as well, though we don't have it yet. The investment guidelines for provident fund are stipulated by the law, which in your case is the British one, valid on Island of Man. That means certain restrictions in investments in other words, no risky business ergo poor performance. We are talking about 5 %. Neither the less, its supposed to accumulate over long terms in give it positive effect after not less than 10 years. However according to the law in golf states UAE and Qatar, after resignation employee has got the choice either to take gratuity payment (1 month per year) or the provident fund money, which ever is greater, unless one paid in to the fund less than 7 years, I think with EK. All in all the choice of investment instruments will be very limited, varying from government bonds till real estate projects, serving the main purpose safeguard you money and not spectacular growth. There's not much the managers in EK can do about it, I'm afraid.
Cheers.
Last edited by popay; 8th November 2005 at 15:32.