News

No govt guarantee spells end for trust

Tuesday 23rd of June 2009

The fund's trustee, Trustee Executors, agreed to wind down the fund last month. General manager Bruce Rasmussen told investors the aim was to avoid forced property sales and to preserve capital.

"It's tough - most of the property market's in turmoil," he said. "Tighter liquidity controls and less access to credit" made it extremely difficult for the fund to continue, he said.

The...

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