Versa is not a bank. Money in banks needs PIDM protection because if the bank fails your money is gone.
This is not the case for asset managers including our partner AHAM Capital. With Versa, funds are segregated and held separately by our fund managers’ custodians – HSBC Trustee and CIMB Trustee.
This means that if anything goes wrong with Versa, your money is still safe and protected. Think of it like a fireproof safe inside a house. Whatever is inside is safe even if the house burns down.