About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds
 
Support our sponsors:
sharemarket

Hubbard Management statutory managers make further 15 cent payment

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



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.
Bookmark and Share   Printable version
Related News

Auckland convention centre cost jumps by a fifth
Tweaked Connor ownership soothes regulator's concerns in Acurity takeover
Minister Flavell to push law review to drive Maori agribusiness
US start-up accelerator Y Combinator invests in Canterbury software company
NZ business confidence eases in December, still buoyant
Immigration rises to a fresh record, fuelled by returning kiwis, Indian students
Total job advertising trending down from highs, Auckland still rising steadily
Steel & Tube mulls position as interim judgment finds in favour of Lewis Holdings
Britannia takes down TV ads, working with FMA over UK pension ads
Stuart McLean moves to Trade Me as Xero ditches chief revenue role

 
Previous News
Bond
News Alerts
Breaking News 
After the Bell (daily) 
Gold News 

Unsubscribe/Update »

RSS feeds »
Twitter »
Facebook »

Most Commented On
  forex centre
cfd centre
options centre
NZX 15 Index





© Copyright 2014 MoneyOnline Ltd & Investment Research Group Ltd. All Rights Reserved.