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AXA halts wholesale withdrawals from $229m MBS fund
Monday 4th of August 2008
AXA unit Mortgage Backed Bonds will continue to make interest payments, AXA NZ chief executive Ralph Stewart said. The fund has two types of securities: Class A bonds for individual investors and Class C bonds for institutions, or wholesale investors. Class C bonds amount to NZ$117 million."These are difficult times for investors," Stewart said. "The fund is performing well, however we...
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