Friday 8th March 2013 |
Text too small? |
Statutory managers of the frozen Hubbard Management Funds will make a further payment to investors of 15 cents in the dollar as they work toward full repayment.
The latest payment, due March 15, means 25 cents in the dollar has been repaid to investors from the Capital Return Pool in addition to an initial distribution last year of $9 million.
"We have now realised all the liquid assets of HMF and solid progress has been made towards the realisation of the remaining assets, however due to the nature of these, the realisation process will take some time," statutory managers Graeme McGlinn, Richard Simpson and Trevor Thornton of Grant Thornton said.
"Investors will eventually have all of their original capital returned to them," they said.
The fund's portfolio was valued at $40.75 million as at Dec. 31, and the managers decided to reduce and realign larger holdings in that month.
Last year the statutory managers decided against seeking repayments from investors who were overpaid, and the court-ordered claw-back of overpayments in the interim distribution has been removed.
BusinessDesk.co.nz
No comments yet
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained
Devon Funds Morning Note - 23 April 2024
April 23rd Morning Report
RYM - Group CEO Update
BGI - Director Michael Chai
RAD - Final Dividend and Strong FY24 Operating Performance
RYM - Group CEO Update