I think this is worth raising. They sent the email on a friday night to try and bury it. I find it pretty unethicial and i'm looking for an alternative for micro-investing. What do you guys think? CommSec pocket might be a better option.
Dodgy email:
Cries in 2021 universe investor in red
😔
If you want to feel better, I bought ASX:lis just after it was listed 😂
I had a similar level of sad with SHIB and Bitcoin cash…
Fair enough. I don't think it's unethical. I also don't think CommSec Pocket is any less high risk without a sound investment strategy and timeframe. RAIZ is another micro-investing platform if you're looking around. Depending on your wants and needs it is (in my opinion) somewhat more flexible than CommSec Pocket regarding investment amounts and investment allocation. All three products have their pros and cons.
Most funds that target high growth are listed as Very High Risk. Even Vanguard VAS ETF is a High Risk and it is just a tracker for the ASX top 300 companies.
Exactly. Isn't that why we invested in it OP? Very high risk = very high returns, or very high losses. We knew we were going to take that chance going in.
Looks pretty upfront to me, It only went from High -> Very High. Not like it went from Low -> Very High. Even so, what else do you want from them? They sent you an email with very straight-forward language to let you know.
I find it pretty unethicial
Has their investment strategy changed or just their classification?
Seems if you think it's unethical you likely didn't understand what risk profile if was before the change?
This is because ASIC found they weren't being upfront enough - https://asic.gov.au/about-asic/news-centre/find-a-media-rele…
The new TMD outlines the risks more clearly - https://www.spaceship.com.au/documents/spaceship_voyager_ori…
The Fund is most suitable for consumers who:
- have a more aggressive or very high risk appetite;
- seek to maximise returns;
- want to invest in a fund that has a concentration in the single asset class of equities;
- can accept higher potential losses (e.g. has the ability to bear up to 6 negative annual returns over a 20 year period (Standard Risk Measure (SRM) 6)); and
- are comfortable with the risks associated with the Fund.
Did I stutter?