Guardian Trust freezes fund while complying with govt scheme

The fund, which has about 4,500 investors, was frozen for 35 days, according to a statement. Guardian Trust will separate out the mortgage units into a new fund, leaving only cash in the portfolio, allowing it to qualify for the guarantee.

The mortgage fund would be closed to new investments and the assets sold as soon as market conditions allowed.

By Jonathan Underhill

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PF - Details of Interim Results Webcast
Scott Secures NZ$18 million in Global Contracts for Protein
January 14th Morning Report
AFT - NEW YEAR LETTER TO INVESTORS
TruScreen Invited to Present WHO AI Collaboration Meeting
January 13th Morning Report
January 10th Morning Report
January 9th Morning Report
FCG - Migration to NZX Main Board
FSF - Application to delist FSF from ASX has been submitted