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

Dorchester closes $30 million capital raise, applications exceed offer
NZX says it doesn't know why shares have declined
Sky TV to launch $20/month subscription video ondemand service
Cavalier shares drop 10% after profit warning
Sky TV sees annual profit gain of up to 8.6% in 2015, flags new ondemand service
Mark Mountcastle resigns as chief risk officer with Heartland New Zealand
DNZ revalues portfolio up by $10.7 million
Sealegs turns first-half profit as local market drives sales, Brazil opens new doors
NZ trade deficit widens in Sept as lower log, dairy prices weigh on exports
Sky TV signs conditional deal to renew rugby rights; shares gain

 
Previous News
Bond
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.