In early 2021, PGT review discovered a delay in
investing a small number of clients’ funds, resulting in some accounts missing
an opportunity for a stronger return. The PGT has conducted a thorough review of
its accounts and has compensated clients for any missed potential returns.
The PGT manages its clients’ assets and operates with
integrity and in accordance with the highest ethical, legal and personal
standards. This means investing assets in a prudent manner that achieves
reasonable growth while incurring minimal risk. For more information on the PGT
investments visit the 2020-2021 Annual Report .
Who has been impacted by the investment delays?
Did PGT clients experience losses?
How will I know if my account has been impacted?
If I am impacted, what do I need to do to make sure I am compensated?
I think my account has been impacted, but I haven't heard from my case representative. What should I do?
If I haven't heard from my case manager, does that mean my account was not impacted?
Will you be contacting non-impacted clients?
Who do I contact if I have questions or concerns about my account?
How do I know the PGT review is complete and accurate?
Q: Who has been impacted by the investment delays?
A: A small proportion of the clients for whom the PGT
acted as trustee or committee were impacted and they have been fully
compensated.
Q: Did PGT clients experience losses?
A: No clients experienced any loss of funds. Missed
potential returns refers to the potential gains the accounts would have made if
their money had been invested as per PGT service standards. All client funds remain secure and accounted.
Q: How will I know if my account has been impacted?
A: The PGT will notify you by the end of June by phone or
via letter if applicable.
Q: If I am impacted, what do I need to do to make sure I am compensated?
A: No action by you is required. The PGT will ensure your
trust account is credited if you missed any potential investment gains. Your monies will also be promptly reinvested wherever
appropriate.
Q: I think my account has been impacted, but I haven't heard from my case representative. What should I do?
A: Please contact your case representative for specific
information about your account.
Q: If I haven't heard from my case representative, does that mean my account was not impacted?
A: The PGT is currently completing its review and notifying clients and expects to complete these notifications by the end of December 2021. You may reach out to your case representative with specific questions about your account at any time.
Q: Will you be contacting non-impacted clients?
A: No, we will not be contacting any clients that were
not impacted by this issue specifically. All clients are encouraged to reach
out to their case representative at any time to discuss specific questions
about their accounts.
Q: Who do I contact if I have questions or concerns about my account?
A: Please contact your case representative for specific
questions about your account.
Q: How do I know the PGT review is complete and accurate?
A: The review was completed by external independent investment
experts and the PGT worked with the Office of the Comptroller General to ensure
the review is complete and accurate.
