Again, what is the definition of "positiveness"? To some people it means closing your eyes and ears and doing what you are told with a smile on your face and your heart full of hope. To others it means looking for the truth, uncovering hidden lies and exposing false statements.
The fact is Unitholders OWN the Fund. We have the right to hold our own meetings and vote on our own resolutions as to what happens with the Fund. Most of us oppose listing on the NSX - why should we be made to feel that we have to vote for it ?
Other alternatives have been put forward, some people are just to scared to acknowledge them, they feel safer doing what they're told.
If the RE can make the Fund perform as claimed, why do we need to list on the NSX. Why can't we make them report to us at regular intervals so that we can vote on the best action to take in regards to distributions and redemptions according to the Funds performance.
- We can vote to implement a buy back offer according to what audited accounts allow.
- We can vote to extend the freeze on redemptions for a further 180 days.
- We can vote to look at another buy back offer at the end of the current redemption freeze.
- We can vote to look at another buy back offer at the end of the extended 180 day redemption freeze.
- We can vote that distributions be made whenever profits are realised.
- We can vote to have an independant administrator appointed if we feel that the RE is not living up to its promises.
We don't have to do as we are told, particularly if we feel that is not in our best interests, and I believe that most see listing on the NSX as not being in our best interests.
Tks Burnt for yr 2 replies to my posts - we R overseas 'til mid Sept. Went to ASIC site and tried lodge my bit online but for some reason link comes up with INVALID address. Not sure what tt is all abt but will try again later. Able download form but then need copy to a thumb drive and find somewhere to print off H/copy to mail. WAH!
Haven't been there yet - hope Senator/ LFMP links don't come up with similar rejections
...
If you would like to consider some serious initiatives on the future of our Fund PLEASE attend the QLD meeting on Saturday .
All Queensland AG members next meeting.
Saturday at 2 pm 30 August 2008.
Beenleigh RSL & Mt Warren Golf Course
13 Bardyn Halliday Dr, Mt Warren Park
Please note that you may be requested to provide your PIF current investor ID number
...The Qld PIF Action Group is holding a meeting this weekend. I think that some unitholders have sought professional advice and I am hoping that we will be able to utilise the media to enable all unitholders to be informed of their rights and to be made aware of misleading info given to them by WC. Everyone needs all information at hand in order to make a wise decision. Stay posted !!!!!
Old jap Sorry to say but you are misinformed with your/5/years getting our funds back maybe 30 year plus would be closer oven if WC gets the the value to $2 you have to get a buyer on the NSX to give you a dollar if your lucky for your unit Every body are forgetting that /Dane //NEGATIVE THOUGHTS BRING NEGATIVE RESULTS.
HAVE YOU FORGOTTEN HOW YOU FELT WHEN OCV COLLAPSED AND IT LOOKED LIKE THE PIF WOULD GO IN TO LIQUIDATION WITH VERY LITTLE LIKELY HOOD OF US RECOVERING EVEN A SMALL PERCENTAGE OF OUR FUNDS, IMAGINE IF THEY WERE STILL RUNNING THE SHOW.
WELLINTON ARE OFFERING US THE PROSPECT OF RECOVERING OUR FUNDS OVER A PERIOD OF TIME (3-5-7YRS)WHAT PROSPECT DO YOU THINK OCV WOULD BEING GIVING US EXCEPT MORE GRIEF????
WE KNOW WELLINGTON AS RE AS OF YET ARE AN UNKOWN QUANTITY BUT REALLY WHAT IS THE ALTERNATIVE???
MOST PEOPLE ON THIS THREAD LATELY DO A LOT OF CRITISIZING BUT OFFER NO SOLUTIONS, WHO CARES WHO COUNTS THE VOTES??? WHAT WE WANT IS THE FUND GIVEN THE CHANCE TO PERFORM.
REMEMBER THE FEES WE PAID OCV , WE PAID THEM TO STEAL OUR MONEY. AT LEAST WITH WELLINGTON TO INCREASE THEIR FEES IT WILL BE PERFORMANCE BASED.
HOW MANY PLAYERS ARE LEFT IN THE MORGAGE SECTOR?? LOOK AT ALLCO CITY PACIFIC ETC., WELLINGTON ARE WELL POSTIONED AND EXPERIENCED TO TAKE ADVANTAGE OF THIS CURRENT CLIMATE DUE TO THE LACK OF FINANCIERS FOR DEVELOPMENT, THIS COUNTRY IS ONLY GOING TO GROW AND GROW.
IN MY OPINION WELLINGTON WILL GO FROM STREGTH TO STREGTH, BUT SAYING THAT I ALSO MUST SAY WHO CAN GIVE BLACK AND WHITE FORCASTS TO FUTURE PROFITS,BUT GOD KNOWS WELLINGTON HAVE TO BE BETTER THAN WHAT HAS GONE DOWN BEFORE WITH OCV.
WHERE ARE YOU GONG TO GO WITH A NO NO NO VOTE INTO LIQUIDATION??
(D.A.D.S) SHOW ME A COMPANY THAT HAS LIQUIDATED AND UNIT HOLDERS HAVE RECEIVED A SUBSTANTIAL AMOUNT OF THEIR FUNDS BACK
NO GREAT DOOM I AM NOT ON WELLINGTON PAYROLL ,BUT IF THEY ARE SUCCESSFUL I SUPOSSE YOU WILL WANT TO BE???
MAYBE THE LADY IN THE RED SUIT IS SANTA CLAUSE
ON A FINAL NOTE FOR NOW LET ME SAY THIS. HOW LONG DO YOU THINK A.S.I.C WILL TAKE TO ACT??? THEY SHOULD BE LOOKING IN GREAT DEPTHS INTO OCV NOT WELLINGTON THEY HAVE NOT PISSED OFF WITH OUR MONEY
P.S. THANKS TO ALL THE POSITIVE CONTRIBUTIONS TO THIS THREAD I KNOW YOU HAVE ALL PUT IN A LOT OF YOUR TIME AND EFFORT.
OPTOMIZIME WILL ALWAYS OUTWEIGH THE PESIMIST
CHEERS OLDJAP (NOT THAT OLD THAT WE DONT WANT OUR 1/2 A MILL BACK)
DoraNBoots & Great DoomTo DoraNboots Dora have you heard back from WC about counting votes yet ??? /Dane //
OK i can answer your questains But first just where are you getting your info from?? Saying the fund will be listed on the ASX thats news to me show me where WC have written this ???? You say WC will get the value to $1 in 7 years some say 5 years That means the fund will have to grow by 125% to get back to a $1 right Thats an average growth per a year of 17.85% right now that is just growth forgetting the 6 cents you may or may not get OK now the Australia share market has had an average growth rate over the last 50 years of 10% i am not countings the Divs payed Just growth Now you see just why it just cant be done On growth I shall continue There is talk when the fund is listed It could sell between 10 & 15 cents a unit But lets say it goes for 20 cents So to get back to a $1 on the exchange it has to grow by 500% Yes thats right 500%and over 30 years thats an average growth rate of over 16% Remenber when it is listed you are at the mercy of he market not what the value of the fund is worth I hope that has cleared it up for /Dane //Where do you always get this 30 year bit from?
There seems to be absolutely no foundation to your constant negative postings.
JH has taken this on with a lot more information than the likes of great dame and others here will ever have.
I have spoken to her personally and does not strike me as a con artist like some of you are painting her as. She also doesn't come through as someone who does not truly believe she cannot bring back the value to $1 by 7 years.
You will not get much value out of NSX, that is just for those that need cash now, no matter what. I don't think that will be many. Expect this fund to be listed on ASX within 18 months.
I believe in WC and I know the vast majority do also. You can have all the meetings you want, WC as this fund's RE is a done deal. You can take that to the bank!
Gee Rance nice to hear from you Your still kicking ??? JH/WC rigging the votes ??? O perish the thought They would never do that WOULD THEY ?????????????DoraNBoots & Great Doom
In the words of the great John McEnroe "YOU CAN"T BE SERIOUS!" about JH/WC rigging the votes!!
cheers
Rance (McEnroe in action:!#%&?/)
Next insult will result in the entire thread being shut down.
They were deleted.Sorry, but where are the insults?
To DoraNboots Dora have you heard back from WC about counting votes yet ??? /Dane //
My figures dont add up ??? Gee do i have to go over it again OK The NTA is supposed to be 45 cents that a drop of 55% from a $1 For the NTA to get back to a $1 it needs to grow by 125% divide 125 by 7 years and you get17,85% thats the average growth return per a year now you know that will never happen The rest i have explained about the growth on the exchange /Dane // You still have not told us where you get your info about the ASX ?????Your figures just don't stack up.
If the fund is worth $335m now and we get at least $45m from OCV = $380m at a min growth of 10% pa (and when all this turns around it will be more than that) you can add a min of $38m per year, and that's just a basic non compounding on the $380m base will then be $760m..there's your $1 NTA in just 10 years NOT 30!!! So I believe 7 is realistic and doable with very conservative growth and no other upside from OCV or further insurance /Lloyds paypouts which I am sure will come later.
Yes it will be on the ASX, it is not written anywhere..YET!
My figures dont add up ??? Gee do i have to go over it again OK The NTA is supposed to be 45 cents that a drop of 55% from a $1 For the NTA to get back to a $1 it needs to grow by 125% divide 125 by 7 years and you get17,85% thats the average growth return per a year now you know that will never happen The rest i have explained about the growth on the exchange /Dane // You still have not told us where you get your info about the ASX ?????
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