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15bn in search of owners

(Investors Chronicle10/12/99)  

The search is on for the owners of more than 15bn worth of unclaimed assets. Spearheading the search is the Unclaimed Assets Register. It has just gone live with a new computerised search service. First it will concentrate on tracking down the owners of 1bn worth of unclaimed life policies. Some leading life insurance companies have already supplied information on half a million policies. Others are expected to join up within the next few weeks. In addition, the register will soon add other unclaimed assets to it's database, including 3bn in pensions, 3bn in shares and dividends, 5bn in banks and building societies, 3bn in National Savings, and 300m in other unclaimed assets including the lottery.

"There are many reasons for these lost financial assets, but the most common are a failure of owners to notify institutions of  change of address, lost documentation, spouses and  other heirs who are totally unaware of the assets concerned, or simple forgetfulness," said UAR managing director Keith Hollander. The service may be able to  help even if you have no paperwork and no idea which company you may have invested in. Mergers, company name changes and office changes have all played a part in separating people from their assets. A UAR search costs up to 15, depending on the type of assets you are looking for. The register aims to respond within 28 days. For details, ring 0870 241 1713.


Here at MissingFortunes.com we are trying to speed up the process of searching using the internet and aim to keep the service Free. If you do contact UAR for a postal search please acknowledge us @MissingFortunes.com