Wellington Capital PIF/Octaviar (MFS) PIF

[seamisty]

Re: Octaviar MFS Premium Income Fund PIF

seamisty, Any news of progress in the Federal Court?

Nothing Marcom, One of the applicants will try and contact Carney on Monday to get a report. I will post if I get any feedback. seamisty

 

[mellifuous]

Re: Octaviar MFS Premium Income Fund PIF

Exactly k.smith, unfortunately for JH though, most of the trophies on display in the bargain bin still retain their full faculties and even though the key to the cabinet has been thrown away, the glass is smeared and the shelves covered in dust, the contents are not prepared to sit idly by while others grow fat on the spoils!!! Seamisty

I started a cartoon strip 'Rodger the Dodger'. http://www.moneymagik.com/rodger_and_members.php

You guys might consider doing likewise - maybe 'Generous Jenny'?

 

[flatback]

Re: Octaviar MFS Premium Income Fund PIF

Well, no, not really - if it was a letter addressed to me, then I would publish it.

Such warnings are meant to deter use by third parties, not the addressee.

Seek some proper advise - but, I can say this, if you're scared to post a letter from the manager to a member of your fund, then things just ain't looking good for you.

The Corporations Act mandates that the manager must treat all members equally, so a letter to one which would give information to be excluded from others would be in breach of the law. Think about it!

Of course, this would exclude the addressee's private information, however, if the addressee wished to release that information, that is fine.

If you're unsure, hide the letter in a dark corner of the attic of your house, or better still, bury it in a small safe somewhere deep within a state forest.

Funny? you bet.

Mellifuous the paranoia is amazing, people, understand this women has no intention of recouping your money(and mine)sad but true,IMF is our saving grace!!!, the one in red is not a truthful person.
Flatback

 

[seamisty]

Re: Octaviar MFS Premium Income Fund PIF

I often sit back and regurtitate all the relevant available information that is pertinant to the PIF and assess where we are at, what our options are and why we are steadily going backwards and constantly look for better alternatives. I am sure that the majority of PIF investors that gave JH their overwhelming support must seriously ask the same question because I am inundated with enquiries from other PIF investors seeking another alternative to the current regime. Contrary to what WC hotline staff read from their daily directives, I am sure we are being deprived of the correct PIF relevant info!! That is why I do not waste my time directing inquiries to the IAC reps who still remain allusive and incognito!! They are so illusive I question the very existance of at least one and consider the other two a non event because this site is the contact point, NOT WELLINGTON CAPITAL INVESTMENT MAnagement.

 

[mellifuous]

Re: Octaviar MFS Premium Income Fund PIF

I often sit back and regurtitate all the relevant available information that is pertinant to the PIF and assess where we are at, what our options are and why we are steadily going backwards and constantly look for better alternatives. I am sure that the majority of PIF investors that gave JH their overwhelming support must seriously ask the same question because I am inundated with enquiries from other PIF investors seeking another alternative to the current regime. Contrary to what WC hotline staff read from their daily directives, I am sure we are being deprived of the correct PIF relevant info!! That is why I do not waste my time directing inquiries to the IAC reps who still remain allusive and incognito!! They are so illusive I question the very existance of at least one and consider the other two a non event because this site is the contact point, NOT WELLINGTON CAPITAL INVESTMENT MAnagement.

I'm now of the opinion that there is only ONE way to save investors money, and that is for investors themselves to start up a company, get a financial licence, and take over the fund.

Subject of course, to the chances of the 'animal farm' complex setting in, and in lieu of a completely transparent, communicative, open, and low cost manager - if there is such a beast lurking out there in the ether somewhere.

To me, my experience in the FMF may be likened to flying as a passenger in a jet, experiencing violent turbulence within a darkened cabin, and not knowing what is happening.

The Corporations Act is a disgrace for entrusting managers as much as it does, and for leaving investors at the mercy of those managers.


Yes, paranoia and fear - all benefit the managers and disadvantage the investors.

 

[selciper]

Re: Octaviar MFS Premium Income Fund PIF

I'm pretty certain that the next PIF update will contain mostly platitudes like "the Board is very aware that investors are undergoing hardship" The point is that surely we can't endure another year of being pushed backwards through a maze while losing buckets of money. Let's go to action stations in 2010! A timely EGM warrants consideration.

 

[seamisty]

Re: Octaviar MFS Premium Income Fund PIF

http://www.nsxa.com.au/ftp/news/021722338.PDF

Bond Street Custodians Limited – Federal Court Proceedings
A directions hearing of this matter took place on 8 December 2009 before Justice Perram in the Federal
Court in Sydney.
The current hearing date for this matter has been vacated as a result of the Plaintiff, Bond Street Custodians
Limited, seeking to file a notice of motion in relation to amendment and/or discovery against the Defendant,
the former responsible entity of the Premium Income Fund.
Further directions in this matter will be heard on 10 February 2010.
Further updates will be provided as the matter progresses.

 

[seamisty]

Re: Octaviar MFS Premium Income Fund PIF

http://www.nsxa.com.au/ftp/news/021722339.PDF
Class Action Update
Mercedes Holdings Pty Ltd & Ors v KPMG & Ors – Federal Court Proceedings NSD324/2009
(‘Class Action’)
A hearing of the class action took place on Wednesday 16 December 2009 and Friday 18 December 2009
before Justice Perram in the Federal Court in Sydney.
The Court was unable to deal with the Notice of Motion filed by the former responsible entity seeking to
have the former responsible entity (currently the Third Respondent) discontinued as a party to the class
action due to timing restrictions.
As the Federal Court year has now ended, the Notice of Motion will be heard on a date to be fixed in
February 2010.
Further updates will be provided as the matter progresses.

 

[seamisty]

Re: Octaviar MFS Premium Income Fund PIF

http://www.nsxa.com.au/ftp/news/021722340.PDF
Business Update
Wellington Capital Limited as responsible entity of the Premium Income Fund advises that its offices,
including the Wellington Hotline, will close for the holiday season from 4.00pm (AEST) on Wednesday 23
December 2009, until 9.00am (AEST) Monday 11 January 2010.

 

[JohnH]

Re: Octaviar MFS Premium Income Fund PIF

http://www.nsxa.com.au/ftp/news/021722340.PDF
Business Update
Wellington Capital Limited as responsible entity of the Premium Income Fund advises that its offices,
including the Wellington Hotline, will close for the holiday season from 4.00pm (AEST) on Wednesday 23
December 2009, until 9.00am (AEST) Monday 11 January 2010.

I'll give you one guess as to when they will release their 4 monthly "Investor Update"!!!!!:xmastree

 

[simgrund]

Re: Octaviar MFS Premium Income Fund PIF

I often sit back and regurtitate .......................................................................................................................That is why I do not waste my time directing inquiries to the IAC reps who still remain allusive and incognito!! They are so illusive I question the very existance of at least one and consider the other two a non event because this site is the contact point, NOT WELLINGTON CAPITAL INVESTMENT MAnagement.

I will take time and effort to plug another call to IAC to integrate with us.
And I hope I am joined by many in wishing the WC and IAC a very Merry Christmas and may 2010 be the defining year of our relationships.

A sincere Merry Christmas TO ALL!!!

indefatigably simgrund

 

[JohnH]

Re: Octaviar MFS Premium Income Fund PIF

I will take time and effort to plug another call to IAC to integrate with us.
And I hope I am joined by many in wishing the WC and IAC a very Merry Christmas and may 2010 be the defining year of our relationships.

A sincere Merry Christmas TO ALL!!!

indefatigably simgrund

:alcohol: I'll drink to that!!!!!

 

[marcom]

Re: Octaviar MFS Premium Income Fund PIF

Justice Perram's Orders following hearings on 16 & 18 December in the Federal Court:

NSD324/2009

ORDER

JUDGE:
Justice Perram
DATE OF ORDER:
18 December 2009
WHERE MADE:
Sydney

THE COURT ORDERS THAT:
1. The applicant file and serve any evidence in response to the affidavit of Jennifer Hudson sworn 11 December 2009 by 29 January 2010.
2. Leave be granted to the parties to approach my Associate to determine a hearing date.

Date that entry is stamped:

Deputy District Registrar

 

[seamisty]

Re: Octaviar MFS Premium Income Fund PIF

Hi all, I would just like to take this opportunity to tell all OCV/PIF forum participants and readers that I hope you all enjoy the Xmas break and put aside the total lack of promised performance from Wellington Capital and Jenny Hutson and endeavour to surround yourselves with family and friends and celebrate regardless!!
Next year is a new year and we have a few positives to look foward to. Best wishes to my fellow PIF investor who unfortunately will be spending Xmas in the John Flynn oncology ward:xmastree
Thankyou to all of you who have sent me relevant PIF info and media articles to share or put to better use and thanks to other PIF Action Group reps who work tirelessly in the pursuit of better outcomes for all and to individual investors for acknowledging and thanking us for our work.
Take care all and cheers. Seamisty

 

[Duped]

Re: Octaviar MFS Premium Income Fund PIF

Thank you Seamisty.

My Christmas wish list:

• Unit list price approaching something close to the audited value.

• A business plan to grow the fund (something a bit more than just: sell everything)

It's not too much to ask for is it?

I'm mean ... c'mon. Are we here to do business WC or just some resume building?

Maybe someone with a propensity for red suits will finally deliver.

 

[JohnH]

Re: Octaviar MFS Premium Income Fund PIF

Thank you Seamisty.

My Christmas wish list:

• Unit list price approaching something close to the audited value.

• A business plan to grow the fund (something a bit more than just: sell everything)

It's not too much to ask for is it?

I'm mean ... c'mon. Are we here to do business WC or just some resume building?

Maybe someone with a propensity for red suits will finally deliver.

:chimney Ho! Ho! Ho! ........... I suppose we could believe in Santa!!!

 

[BootsnAll]

Re: Octaviar MFS Premium Income Fund PIF

Interesting

Wallace Infrastructure bought 6,567,000 shares in ELY on 18/12/ 09.

The substancial shareholder announcement to ASX was faxed from WC

JH is replacing Tony Hartnell as Chairman of ELY

Chris Scott is to be Managing Director

Shares have gone from 0.14 to 0.29.

Is this the same Craig Lewiss Wallace who is a director of the NSX?

Is there any hope for long suffering PIF holders?

 

[seamisty]

Re: Octaviar MFS Premium Income Fund PIF

Interesting

Wallace Infrastructure bought 6,567,000 shares in ELY on 18/12/ 09.

The substancial shareholder announcement to ASX was faxed from WC

JH is replacing Tony Hartnell as Chairman of ELY

Chris Scott is to be Managing Director

Shares have gone from 0.14 to 0.29.

Is this the same Craig Lewiss Wallace who is a director of the NSX?

Is there any hope for long suffering PIF holders?

I will be closely following the sale of Octaviars 20 Sunkids childcare businesses which Bentleys have placed on the market. 'The wheels on the bus go round and round.............' Seamiaty

 

[The Owls]

Re: Octaviar MFS Premium Income Fund PIF

Below is an update from Wellington-Premium Income Fund site.

Business Update
Wellington Capital Limited as responsible entity of the Premium Income Fund advises that its offices, including the Wellington Hotline, will close for the holiday season from 4.00pm (AEST) on Wednesday 23 December 2009, until 9.00am (AEST) Monday 11 January 2010.

It is great to see they have their priority correct. As yet no update as to the current financial postion of PIF.

I should not be this cynical at this time of the year..

Merry Christmas to all.


The Owls

 

[selciper]

Re: Octaviar MFS Premium Income Fund PIF

The Owls - You never know, perhaps they have set their computer to fire off an update on 30 Dec. I doubt it, but nothing would surprise me anymore when it comes to PIF/WC.

A Merry Xmas to all who contribute so usefully to this thread.