Protection of retail client funds
Why clients can trust Monix Limited with their money
- Monix Limited holds 3 UK investment company licenses globally and is a well-capitalised and well-regulated UK investment company.
- Monix Limited has always been very prudent in how we approach our treasury and balance sheet with low risk to interest rate movements.
- Monix Limited has a clean balance sheet and has no appetite to “go out on the yield curve”.
- Monix Limited does not have a loan mortgage or commercial loan book with inherent risk of credit losses.
- Monix Limited is a profitable company with a very well-diversified business, where we have taken strategic decisions that allow us to be in a strong position where clients and partners can and should continue to trust us as a safe, attractive place to put their deposits.
Monix Limited is a member of the UK Guarantee Fund.
In the event that a UK investment company (including Monix Limited) should suspend its payments or go into bankruptcy, client deposits are guaranteed by the Fund with up to GBP 100,000 for cash deposits. Cash deposits are calculated as the net free deposit after deduction of any debt to the account.
As a general rule, securities will not be affected by the suspension of payment or compulsory winding-up and will be returned to the client. In the event that a UK investment company (including Monix Limited) is unable to return securities held in safe-custody, administered or managed, the Guarantee Fund will cover with up to GBP 20,000 per client.
For further information on the Guarantee Fund and the coverage as well as an updated list of the Guarantee Fund Members.
Please note that your funds are protected under the Guarantee Fund whichever classification status you hold with Monix Limited.
Protection of Institutional client funds
Protection of cash in case of Monix Limited’s Default:
Institutional clients are, due to their status as licensed financial institutions, not covered for cash in case of Monix Limited’s default. Cash in this regard includes the netted value of derivative positions.
Protection of securities in case of Monix Limited’s Default:
All securities held with Monix Limited will be returned to the White Label Client if they are retrievable from Monix Limited’s custodian.
That the securities are retrievable is ensured by the requirement of section 95(3) of the UK Investment Firm Act, which imposes on UK investment company to ensure that, the client’s rights to their securities are at all times protected, also in case of a default.