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Shiisa · December 3rd, 2006, 11:14 AM

GDT gave me permission to post this information

DXSupport ID PIY-QEE3WV-ARO0

Quote:

Message:
Hello Janet,

It is becoming more and more unlikely that Type 3 and much of Type 2 funds will be released to Production Funds without them being converted. The Type 3 funds transferred to the portfolios have been earning Production Funds to provide some return on funds that had little value because they were almost entirely due to inflated portfolios. Whether these funds were purchased from other account holders doesn't change anything as we track all the transfers between accounts and know from where and how the funds were generated.
There will be a function to convert Type 1 funds to Production Funds at the activity rate that have previously been converted from Type 2 and 3 available soon.

We are providing the best possible outcome for funds that still carry a debt that still needs to be accounted for. There has been no indication that there will be a significant return of the funds or funds to cover the fees that would have cleared the inflated funds therefore the conversion is the most likely outcome.

We hope we have been of assistance, if you have any further questions or queries please don't hesitate to reply.

With Regards,
The DXSupport Team

**lynnette** · December 3rd, 2006, 11:20 AM

Thanks for that Jan. Now I think maybe people may think again about hanging onto their T3 funds.

chrysoveil · December 3rd, 2006, 12:58 PM

I've just converted a load of T3 to T2. Bought digots with my T2. Suffered the premium overload. And now I'm hearing T2 funds will be of no use!

Shiisa · December 3rd, 2006, 02:01 PM

At this point I don't think that's what you're hearing in this DXS response...

For now, I'd just concentrate on the fact that T3 needs to go...

**Garage Logician** · December 3rd, 2006, 03:29 PM

Definitely good information to have if your Port still has T3 funds. Just emailed the link to those close to me that are involved with DXS so they can get on the bandwagon before the rates go further south.

kiplingsgold · December 3rd, 2006, 03:31 PM

Jan

I've only got T2 and T1 in my portfolio. I know you are concentrating on T3, but the DXSupport message indicated much of T2 would not be converted, so does that mean we should all rush to get rid of our T2 as well?

Dynamic-Xchange · December 3rd, 2006, 03:37 PM

I guess the gist of it is that ideally you want to be looking towards just having straight PF instead of any T series funds hence them soon providing a T1 to PF conversion option.

Shiisa · December 3rd, 2006, 03:39 PM

Quote:

Originally Posted by kiplingsgold

Jan

I've only got T2 and T1 in my portfolio. I know you are concentrating on T3, but the DXSupport message indicated much of T2 would not be converted, so does that mean we should all rush to get rid of our T2 as well?

Debbie, At this point I wouldn't worry too much about your T2... if the conversion rate begins to drop, then we'd need to re-assess that.... it hasn't taken a "rush" to figure out how to respond to the falling conversion rate for T3 -- I don't anticipate that the T2 conversion rate would fall any faster...

Dynamic-Xchange · December 3rd, 2006, 03:47 PM

Quote:

Originally Posted by Shiisa

I don't anticipate that the T2 conversion rate would fall any faster...

What makes you think that?

Shiisa · December 3rd, 2006, 04:27 PM

Because DXS is not "out to get" anyone... so I don't expect to log in one day and discover that my T2 cannot be converted...

AND because I will keep in touch with them so that if they recommend that we convert T2 to avoid more losses, we can announce that to members...

I get pretty timely responses when I'm asking questions that are intended to help people....