SSIA outflows hit EBS’ Summit funds

Special Savings Incentive Account (SSIA) holders who invested in EBS’ Summit funds will lose out from a change in the method used for calculating the values of their investments.

10th February, 2007

Special Savings Incentive Account (SSIA) holders who invested in EBS’ Summit funds will lose out from a change in the method used for calculating the values of their investments.

Irish Life Investment Managers, which recently took over responsibility for managing the funds, said it had changed the basis for valuing them to reflect anticipated withdrawals from the funds when they mature over the coming months.

A spokesman said the change in valuation methodology would...

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