Australian (ASX) Stock Market Forum

Wellington Capital PIF/Octaviar (MFS) PIF

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Re: Octaviar MFS Premium Income Fund PIF

Rance said:
Many thanks to those who sent me birthday wishes and to Simgrund for words of Volga Boatman song. Much appreciated.

Except for some of you drinking more booze, nothing much has changed on this forum!

Rance
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If we are not careful, the Government will step in with their "intervention" action customised for PIF drinking sods.
More Cheers to you again!!!
 
Re: Octaviar MFS Premium Income Fund PIF

selciper said:
This could lead eventually to some slightly better news for us.

From the Australian today:

"The thawing in Australian lending rates also follows falls in US dollar LIBOR and its spread to the relevant overnight index swap rate.

"It has been a very gradual decline, but we are seeing signs of relief on the funding front," ICAP senior economist Adam Carr said.
Click to expand...

We should be seeing our capital distribution soon then?
 
Re: Octaviar MFS Premium Income Fund PIF

Centrelink have now accepted my claim that $0.15 is the value of a Wellington PIF unit after the trade on NSX.

Those on partial pensions should now claim with appropriate documentation.
 
Re: Octaviar MFS Premium Income Fund PIF

JohnH said:
With all this talk about stress, I received this email today which is highly appropriate:-

New Wall Street Vocabulary


CEO - Chief Embezzlement Officer.
CFO - Corporate Fraud Officer.
BULL MARKET - A random market movement causing an investor to mistake himself for a financial genius.
BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.
VALUE INVESTING -- The art of buying low and selling lower.
P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.
BROKER -- What my broker has made me.
STANDARD & POOR -- Your life in a nutshell.
STOCK ANALYST -- Idiot who just downgraded your stock.
STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.
FINANCIAL PLANNER -- A guy whose phone has been disconnected.
MARKET CORRECTION -- The day after you buy stocks.
CASH FLOW-- The movement your money makes as it disappears down the toilet.
YAHOO -- What you yell after selling it to some poor sucker for $240 per share.
WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.
INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.
PROFIT -- An archaic word no longer in use.

.................anybody else got any more??
Click to expand...

How about:

MFS - 'Mortgage' Fund Scam ('Mort' is Latin for death isn't it?)

OCV - Others' Captial Vanishing/Vapourising or Our Creditors Vanquished
 
Re: Octaviar MFS Premium Income Fund PIF

Hi all, A trade just went through at 35 cents for 20,000 units on the NSX. Not sure if it was an off market transfer but the sell or buy was not listed a short time prior to it appearing as having gone through. Seamisty
 
Re: Octaviar MFS Premium Income Fund PIF

demodocus said:
Centrelink have now accepted my claim that $0.15 is the value of a Wellington PIF unit after the trade on NSX.

Those on partial pensions should now claim with appropriate documentation.
Click to expand...

Hi Seamisty,
I have just sent Demodocus a private message regarding the above.
It would appear now, this last trade will reset the value to 0.35 cents for later applicants. I guess we will just have to pick our moment in time to make our application.

Best wishes.
 
Re: Octaviar MFS Premium Income Fund PIF

2CentsWorth said:
Hi Seamisty,
I have just sent Demodocus a private message regarding the above.
It would appear now, this last trade will reset the value to 0.35 cents for later applicants. I guess we will just have to pick our moment in time to make our application.

Best wishes.
Click to expand...
Yes 2CentsWorth, I fowarded the info on to a friend on the GC and she rang Centrelink and was told that they had no notification regardind the matter and they needed to be notified officially. Ten minutes later the price was 35cents! This is going to be difficult for centrelink to monitor and will be a confusing problem for pensioners I think Seamisty
 
Re: Octaviar MFS Premium Income Fund PIF

JohnH said:
It's very quiet in here:shake:
Click to expand...
Sure is! Maybe everyone is absorbing the downfall of Allco, ABC, and the $40 billion hole in the budget. Sobering news.

I'm glad JH is adverse to holding debt and has almost repaid it all from the fund's current income ($9.5 million still outstanding). Inability to finance debt seems to have been the downfall of the Australian companies going down the gurgler.

Rance :headshake
 
Re: Octaviar MFS Premium Income Fund PIF

Rance said:
Sure is! Maybe everyone is absorbing the downfall of Allco, ABC, and the $40 billion hole in the budget. Sobering news.

I'm glad JH is adverse to holding debt and has almost repaid it all from the fund's current income ($9.5 million still outstanding). Inability to finance debt seems to have been the downfall of the Australian companies going down the gurgler.

Rance :headshake
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Another broken committment/promise made by JH "bank loan will be repaid by end of Aug.2008".

Do they leave all their financial planning/budgeting/management to chance ??
They're a bunch of juggling clowns who should be in a circus !!

On what basis are you making the statement "has almost repaid it all from the fund's current income", have you had the privledge of examining WC's accounts ?

By the way, ABC's downfall was not caused by "inability to finance debt" - it was directly caused by the fact that Eddy Groves is a well known CROOK !!
Much like our friends at MFS/OCTAVIAR/WELLINGTON !!
 
Re: Octaviar MFS Premium Income Fund PIF

From a media article today:::ABC Learning appointed administrators on Thursday, two days after Allco appointed administrators to run its business after failing to refinance A$147 million ($98 million) of debt. Regards, Seamisty
 
Re: Octaviar MFS Premium Income Fund PIF

Burnt said:
Another broken committment/promise made by JH "bank loan will be repaid by end of Aug.2008".

Do they leave all their financial planning/budgeting/management to chance ??
They're a bunch of juggling clowns who should be in a circus !!

On what basis are you making the statement "has almost repaid it all from the fund's current income", have you had the privledge of examining WC's accounts ?

By the way, ABC's downfall was not caused by "inability to finance debt" - it was directly caused by the fact that Eddy Groves is a well known CROOK !!
Much like our friends at MFS/OCTAVIAR/WELLINGTON !!
Click to expand...

Good on you Burnt! That's put the fire back into the forum!

The basis for my comment is the statement at the foot of page 1 of the PIF Investor Update: 28 October 2008:
"The 3 settlements planned for October 2008 with planned realisations of over $25 million have failed to settle. Consequently the Premium Income Fund debt remains at $9.5 million and the Fund is unable to pay an October distribution."

Did you not receive your copy of this update in the mail? It is also on the WC website (you can navigate to it). It just occurred to me, perhaps you're not a PIF investor? Surely I'm wrong about that.

Eddie may or may not be a crook, but three of the big four banks would sure like the money they loaned ABC back (read the papers; watch the business programs on TV... you'll be better informed).

Rance :mad:
 
Re: Octaviar MFS Premium Income Fund PIF

Burnt said:
Another broken committment/promise made by JH "bank loan will be repaid by end of Aug.2008".

Do they leave all their financial planning/budgeting/management to chance ??
They're a bunch of juggling clowns who should be in a circus !!

On what basis are you making the statement "has almost repaid it all from the fund's current income", have you had the privledge of examining WC's accounts ?

By the way, ABC's downfall was not caused by "inability to finance debt" - it was directly caused by the fact that Eddy Groves is a well known CROOK !!
Much like our friends at MFS/OCTAVIAR/WELLINGTON !!
Click to expand...


Burnt, A friendly warning! (and I have no axe to grind here) I think you better be sure of your facts if you make this sort of statement. I believe I am correct that the laws of libel apply to postings on the internet
 
Re: Octaviar MFS Premium Income Fund PIF

Hi Rance,

You are perhaps the one who needs to look closely at your sources of information (or perhaps the way in which you are instructed or conned into interpreting them).

Nowhere in the Update of 28th Oct. does it suggest that the bulk of the bank loan has been repaid from the Funds current income. The statement you quoted is merely the excuse they have given (one of several) for not paying the balance of the debt or the promised distributions. A situation they knew they were facing on the 15th Oct. but chose to lie about !

I would like to know who the loan was re-financed through ?

Also, as with MFS/OCTAVIAR/WELLINGTON, ABC Childcare (another Gold Coast set up) obtained finance that they had no hope of repaying, based on dodgey accounts and non-disclosures. (just to keep you informed)

Regards from the Gold Coast :cool:
 
Re: Octaviar MFS Premium Income Fund PIF

JohnH said:
[/I][/B]

Burnt, A friendly warning! (and I have no axe to grind here) I think you better be sure of your facts if you make this sort of statement. I believe I am correct that the laws of libel apply to postings on the internet
Click to expand...

Thanks for the warning John, but if the shoe fits !

There has been much reporting on Eddy Groves over the last 12 - 18 months and there has been lots of information uncovered and reported.

That's the value of accurate information and facts, it empowers people who otherwise might believe they are powerless.
 
Re: Octaviar MFS Premium Income Fund PIF

seamisty said:
Trust you and Rance to flush 'em out LOL!!!!Seamisty
Click to expand...

Dear Seamisty

I thought we all agreed on the forum that you were to go fishing for a month to give us all a rest.

Now it appears you are back early, with very bad sea sickness after looking on board SAT at your investment returns.

Please get rid of all these mod comms - nothing but trouble.

Get a good banker in future, and 747 Kevin will look after you.

Regards


Splitpin
 
Re: Octaviar MFS Premium Income Fund PIF

Rance said:
Good on you Burnt! That's put the fire back into the forum!

It just occurred to me, perhaps you're not a PIF investor? Surely I'm wrong about that.


Rance :mad:
Click to expand...

Dear Rance

I rang WC today and it may be that Burnt is very major unit holder.

Are you a unit holder also or an advisor or both and/or a Octaviar shareholder as well.

Previously we have established you are not a lawyer.

So what are you.

Regards

Splitpin
 

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