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ING and LM Investments battle over fund redemption
Tuesday 31st of March 2009
The PPS fund currently has half its money with three managers; Australian-based LM Investments, Equitable and the Portfolio Management Group. The other half of the fund is in cash.
Head of the investment committee, Jeremy Thompson, says there are concerns over the ability of LM to repay the money in its LM Currency Protected Australian Income Fund.
He says ING requested to redeem...
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