Wellington Capital PIF/Octaviar (MFS) PIF

[demodocus]

Re: Octaviar MFS Premium Income Fund PIF

PIF Investor Update October 2008 issued. distribution details,

Wellington just advised me " Because of the Global upheaval we're hoping to be able to pay the 3c distribution just before Christmas".

Deary me.

 

[danger danger]

Re: Octaviar MFS Premium Income Fund PIF

Wellington just advised me " Because of the Global upheaval we're hoping to be able to pay the 3c distribution just before Christmas".

Deary me.

So they told you that the 1.5c, 31 Oct payment is now canned?

 

[demodocus]

Re: Octaviar MFS Premium Income Fund PIF

So they told you that the 1.5c, 31 Oct payment is now canned?

Yes.

 

[roast]

Re: Octaviar MFS Premium Income Fund PIF

The new, corrected, Tax Statement for PIF, dated 20 Oct, is now available for download from the Computershare website... Has anyone checked Part D? I'm no tax guru but simple maths tells me there's a boo-boo. Does anyone agree?

 

[breaker1]

Re: Octaviar MFS Premium Income Fund PIF

Wellington just advised me " Because of the Global upheaval we're hoping to be able to pay the 3c distribution just before Christmas".

Deary me.

I was told that the first payment might be a few days late going into November, but are you now saying that both 1.5c payments won't be till late December?

 

[DoraNBoots]

Re: Octaviar MFS Premium Income Fund PIF

The new, corrected, Tax Statement for PIF, dated 20 Oct, is now available for download from the Computershare website... Has anyone checked Part D? I'm no tax guru but simple maths tells me there's a boo-boo. Does anyone agree?

Hi Roast,
I just got my blue tax statement in the mail today. Can you tell us which part of Part D looks wrong? I thought Part A was strange in that it has the same figure for both "Assessable foreign source income" and "Other net foreign source income" and yet in Part D the figures for these two items are dramatically different. Anyone know if this would be right?

 

[selciper]

Re: Octaviar MFS Premium Income Fund PIF

So, it seems there is no distribution until December 24! This is a very bad start for WC PIF customer relations. Many of us have naturally planned around the Oct 31 distribution date as we believed what, in good faith, we were told. Ms Hutson, a quick explanation is required from you if this is the case.

 

[like2ski]

Re: Octaviar MFS Premium Income Fund PIF

So, it seems there is no distribution until December 24! This is a very bad start for WC PIF customer relations. Many of us have naturally planned around the Oct 31 distribution date as we believed what, in good faith, we were told. Ms Hutson, a quick explanation is required from you if this is the case.

Hi selciper,
I wouldn't mind betting that unfortunately this is the first of many disappointments we are going to be subjected to from this crowd.... hope I am wrong??

 

[DoraNBoots]

Re: Octaviar MFS Premium Income Fund PIF

So, it seems there is no distribution until December 24! This is a very bad start for WC PIF customer relations. Many of us have naturally planned around the Oct 31 distribution date as we believed what, in good faith, we were told. Ms Hutson, a quick explanation is required from you if this is the case.

You would think that something as important as the delay in the cash payment scheduled for 31st Oct would warrant an official statement to the NSX. Looks to me like WC have breached the NSX continuous disclosure requirements. I wonder if the NSX will see this delay as an issue as the information they have been told by WC is that there won’t be any cash payments for the foreseeable future. For info on disclosure see the documents at this link: http://www.nsxa.com.au/rules_practicenotes.asp

The Continuous Disclosure doc states:
View attachment 25052

Any issues you have with the current disclosure of the PIF’s fund should be lodged at this link: http://www.nsxa.com.au/complaints.asp.

 

[great dame]

Re: Octaviar MFS Premium Income Fund PIF

Hi folks Don't spend your 3 cents you get in Dec all at once It may be the last one you will get for a long long time But don't dis pare we can always sell our units on the NSX for 5 cents HAVE A HAPPY DAY Dane ////

 

[selciper]

Re: Octaviar MFS Premium Income Fund PIF

It was a contributor to this thread (yesterday approx 1400) who broke the news about the apparent change of the distribution date. That WC should be using such a channel for the breaking of extremely important news is quite incredible. Breaker 1 should have been informed immdediately. Just let's consider the thousands of PIF investors who don't read this forum and are probably already spending their "distribution" money in advance and will be hit by the bombshell at a time convenient to WC. We surely all deserve more respect than this.

 

[Burnt]

Re: Octaviar MFS Premium Income Fund PIF

It was a contributor to this thread (yesterday approx 1400) who broke the news about the apparent change of the distribution date. That WC should be using such a channel for the breaking of extremely important news is quite incredible. Breaker 1 should have been informed immdediately. Just let's consider the thousands of PIF investors who don't read this forum and are probably already spending their "distribution" money in advance and will be hit by the bombshell at a time convenient to WC. We surely all deserve more respect than this.

I find it "incredible" that you find it "incredible" the WC has not passed on important information.
Also, why should Breaker 1 have been informed immediately ? Is there some kind of priority listing of unit holders ?????

 

[simgrund]

Re: Octaviar MFS Premium Income Fund PIF

The new, corrected, Tax Statement for PIF, dated 20 Oct, is now available for download from the Computershare website... Has anyone checked Part D? I'm no tax guru but simple maths tells me there's a boo-boo. Does anyone agree?

Does't part "D" relate to income paid for previous financial year;
e.g July 07 to Feb 08; freeze date???

 

[danger danger]

Re: Octaviar MFS Premium Income Fund PIF

NSX has a trading halt on the units. Looks like more trouble on the horizon via a challenge of a redemption allegedly made prior to the freeze.

http://www.nsxa.com.au/ftp/news/021720818.PDF

 

[seamisty]

Re: Octaviar MFS Premium Income Fund PIF

Wellington just advised me " Because of the Global upheaval we're hoping to be able to pay the 3c distribution just before Christmas".

Deary me.

Hi demodocus and All, You must have misinterpreted your information demodocus, the distributions are STILL ON TRACK!!! The following is an e-mail I received from WC just now::::Thank you for your email.

The directors of Wellington Capital Limited have resolved to make cash payments of 3 cents per unit to all unitholders by 24 Deember 2008, with the first instalment payable by the end of October 2008.

Kind regards

Caroline Snow
Associate Director


In regard to the 30 minute Trading Halt on the NSX this morning, the claim is being made by several investors in the wholesale premium income fund. This fund had a 24hr redemption clause (wish I had known that was available) and was instigated as a result of the collapse in share price of OCV. The outcome will not be known any time soon, WC see it as another hiccup which will be dealt with accordingly. Fortunately, legal issues are their forte!! Regards, Seamisty

 

[demodocus]

Re: Octaviar MFS Premium Income Fund PIF

Hi demodocus and All, You must have misinterpreted your information
Kind regards
Caroline Snow
Associate Director

Tell you what, darlin' .... you have seven days to prove me wrong.

 

[DoraNBoots]

Re: Octaviar MFS Premium Income Fund PIF

...
you for your email.
The directors of Wellington Capital Limited have resolved to make cash payments of 3 cents per unit to all unitholders by 24 Deember 2008, with the first instalment payable by the end of October 2008.
Kind regards
Caroline Snow
Associate Director
...

I find this statement vague for a company that should be in the process of organising a payment which is payable in 5 working days. The NSX announcements should be interesting in the coming week.

 

[like2ski]

Re: Octaviar MFS Premium Income Fund PIF

I find this statement vague for a company that should be in the process of organising a payment which is payable in 5 working days. The NSX announcements should be interesting in the coming week.

Hi DoraNBoots,
I fully agree, not the professionalism expected from such a supposedly high flying chairperson who promised a higher,fairer and more professional standard than MFS/Octaviar
More & more spin.............

 

[SPLITPIN]

Re: Octaviar MFS Premium Income Fund PIF

The new, corrected, Tax Statement for PIF, dated 20 Oct, is now available for download from the Computershare website... Has anyone checked Part D? I'm no tax guru but simple maths tells me there's a boo-boo. Does anyone agree?

Roast

The numbers add up on original white version.

The numbers don't add up on the new blue version.

There are differances in the coding and value allocations between the two versions.

The total dividend amount remains the same in both versions.

I will send both to my accountant just to confuse him.

Splitpin.

 

[Burnt]

Re: Octaviar MFS Premium Income Fund PIF

Hi demodocus and All, You must have misinterpreted your information demodocus, the distributions are STILL ON TRACK!!! The following is an e-mail I received from WC just now::::Thank you for your email.

The directors of Wellington Capital Limited have resolved to make cash payments of 3 cents per unit to all unitholders by 24 Deember 2008, with the first instalment payable by the end of October 2008.

Kind regards

Caroline Snow
Associate Director


In regard to the 30 minute Trading Halt on the NSX this morning, the claim is being made by several investors in the wholesale premium income fund. This fund had a 24hr redemption clause (wish I had known that was available) and was instigated as a result of the collapse in share price of OCV. The outcome will not be known any time soon, WC see it as another hiccup which will be dealt with accordingly. Fortunately, legal issues are their forte!! Regards, Seamisty

Pretty hard to misinterpret a simple verbal statment.
Let me try to interpret the emailed statement, they have resolved to pay a cash payment of 3c to all unit holders by 24/12/08, 1st intalment payable by end Oct. I don't see them "resolving" to pay the 1st instalment. But as has been stated the truth will be revealed in a matter of days.

Nice to see that now trading has resumed, the 15c purchase bid has now dropped to 10c. Well done !!