Basset & Gold

Basset & Gold offers unregulated corporate bonds paying

  • up to 7.46% per annum for bonds paying monthly income for a term of up to 5 years
  • 7.7% per annum for 5-year bonds with interest rolled up
  • 4.32%pa on 1-year “pensioner bonds” for the over 55s only
  • and 3.14% on “cash bonds” which pay interest bi-annually and are redeemable by giving 30 days’ notice.

Status

Open to new investment.

Who are Basset & Gold?

There is no information on the website on who the directors or owners of the company are.

Companies House shows that Basset & Gold plc is wholly owned by B&G Investments Ltd, a company registered in the Seychelles. I was unable to find any information about B&G Investments.

The directors of Basset & Gold plc are Daniel Smith and Dror Israel Sordo.

Dror Sordo was previously the Chief Executive of PlusUK500, an AIM-listed CFD and forex-trading website – essentially a bookmaker for gambling on financial markets. According to the FCA register, he left that position in 2013, although his LinkedIn profile has not been updated.

Investors should think very carefully before investing money with a company that is not upfront about who is owning or running it.

How secure is the investment?

All investments offered by Basset & Gold are unregulated corporate loans and if Basset & Gold defaults you risk losing 100% of your money.

There are very few details on the website as to how your money is invested by Basset & Gold, but a risk warning at the bottom of the website states “Investment through the Basset & Gold Fixed Income Bonds involves lending to companies or individuals and therefore your capital is at risk and interest payments are not guaranteed if the borrower defaults”.

There is a vague reference in the risk warning to the investments being asset-backed. However, if for whatever reason Basset & Gold is unable to sell the assets your bond is secured on for enough money to cover its obligations, investors still risk losing up to 100% of their money.

Should I invest with Basset & Gold?

As with any unregulated corporate bond, this investment is only suitable for sophisticated and/or high net worth investors who have a substantial existing portfolio and are prepared to risk 100% loss of their money.

This particular bond is advertised as asset-backed. Before putting any reliance on the security backing the bond, investors should undertake professional due diligence to ensure that a) the security exists b) in the event of default, the security could be easily sold and would raise enough money to cover all investors’ money c) the charge over the security has been properly and legally recorded.

Before investing investors should ask themselves:

  •         How would I feel if the investment defaulted and I lost 100% of my money?
  •         Do I have a sufficiently large portfolio that the loss of 100% of my investment would not damage me financially?
  •         Have I conducted due diligence to ensure the asset-backed security can be relied on?

If you are looking for a “cash investment” or an investment that offers “security”, you should not invest in unregulated products with a risk of 100% capital loss.

3 thoughts on “Basset & Gold

  1. I wonder if this company is going down the same route as LCF – too many changes over the last month for my liking – haven’t been able to invest further for months now and only 1 relationship manager left who sounds as though he can’t be bothered to speak to you when you call.

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  2. Have tried to phone after e-mail received but keeps saying has technical issues and can not put you through this sounds very dodgy to me so will now send a redemption notice and keep a photo copy of it just in case for the FCA and ombudsman if I have to take it further.

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  3. Basset & Gold is defo up to something – they have now launched another website called bassetgold.com which is only accessible outside the EU and it is has a new registered office in HONG KONG. – using same products and still sponsors of west ham

    Its also reported that the company who sold the investments B&G FINANCE is under investigation for various reasons with the FCA

    they have failed to report any of this to the investors currently and all of the 37 million i have managed to track back has been lent to pay day lender UNCLE BUCK FINANCE – you can trace it yourself through companies house and find the other company involved is RIVERBLOOM

    i have tried contacting people on LINKEDIN who say they do or used to work their and got no reply at the minute – rang the main number and only one person is left in the UK they said

    i want my money back also so will sending a redemption

    i hope the FCA is aware of everything as i am now scared im going to lose everything

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