Business Services Industry
Investors entitled to equality.
Australasian Business Intelligence, August, 2002
Aug 25, 2002 (The Sun-Herald
ABIX via COMTEX) -- Questions have been raised about sharing the costs of an Australian managed fund that is closed for new business. The issue emerged after National Australia Bank took over MLC and decided to stop new money coming into the statutory funds of National Australia Financial Management (NAFM). No new money came in, and $A2 billion of NAFM's $A4.5 billion under management moved to MLC products. NAFM's unit prices fell an average of 1.3 per cent to cover transaction costs. Questions arose as to why the remaining NAFM investors should be penalised.
Publication Date: 25 August 2002
NATIONAL AUSTRALIA BANK LIMITED -
ASX NAB:
MLC LIMITED:
NATIONAL AUSTRALIA FINANCIAL
...
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