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Be careful before investing in cash PIEs
Tuesday 16th of June 2009
Investors need to be aware that the products aren't simply a cash deposit, and that they share some of the characteristics of finance company debentures, said principal Mike Newton. While quality issuers such as ASB Bank, which invests its portfolios back into its own bank deposits, aren't a worry, some of the non-bank funds require closer scrutiny.
"Don't be ignorant again," said Newton...
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