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WINZ suspension in force after US attacks

By Phil Boeyen, ShareChat Business News Editor

Wednesday 12th September 2001

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AMP Investment Management has suspended all applications and redemptions in its World Index Fund (NZSE: WIN) following the US terrorist attacks.

The fund's manager says the decision has been made to protect the interests of all its unitholders.

"We will be continuing to monitor the situation and will continue to keep the market informed," the fund says.

The overnight US airliner attacks hit the world's financial hub in downtown New York causing World Trade Centre towers to collapse. Another slammed into the US defence headquarters, the Pentagon, and yet another in Pittsburgh.

The US is in shock as it tries to comprehend what is being called the biggest attack on the nation since Pearl Harbour was bombed in World War Two.

Financial markets are just beginning to get to grips with the ramifications of the disaster, which has literally brought the world's economic powerhouse to a standstill with all air flights across the US grounded and hundreds of government buildings closed down.

Questions are already being asked about how such a well-orchestrated series of attacks could have happened in a country which spends so much money on intelligence gathering.

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