Having read with interest the various posts by anonymous people we have decided it is time to put the record straight. All the facts mentioned below can be backed up with documentary evidence.
Fact: We are happy to post this with our “Real Names”
Fact: The LM situation although very unsavoury is not the fault of PFM International, Alan Hall or any other financial advisor in Thailand or anywhere else.
Fact: Alan Hall invested more into this fund than any PFM client, would he have done this unless he believed in the future of the Fund and the company managing it?
Fact: LM were checked out and accepted by various large financial organisations including Deutsche Bank, Friends Provident International, Generali, Royal Skandia, Royal London 360 but to name a few. PFM International did not have any reason to doubt the above companies judgement and where happy with the extensive due diligence they carried out.
Fact: Alan Hall has not fled anywhere, he had already made the decision to return to the UK for personal reasons (which included his son’s education amongst other things) but a serious illness brought this forward.
Fact: At the time most PFM clients agreed to purchase the LM fund, no foreign owned financial advisory company in Thailand was licenced by the SEC. In fact only a few have very recently managed to obtain this licence. All the major investment companies are not licenced and this has been something they have looked at and discussed at length over the last couple of years.
Fact: Richard Prouse has nothing to do with the running or ownership of the Dog & Bone pub, he merely goes there to drink!
Fact: Alan Hall does not and never has in the past owned Chiangmai Properties.
Fact: Chiangmai properties have not become “New” sponsors of the CeC, they are one of the earliest sponsors going back at least 6 years.
Fact: Richard Prouse did not tell City-life that he was a partner in PFM International.co.,Ltd that was a fabrication by the then City-life editor.
We do understand client’s frustrations when an investment goes wrong and we are sympathetic towards this, we are also ready and willing to accept any criticism about our work standards and the funds we recommend. Having said that, we feel personal attacks on various people involved by anonymous posters are neither fair or legal so we would ask everyone to stick to the facts as we have done above.