Re: Octaviar MFS Premium Income Fund PIF
I had the same problem yesterday and still do today
I had the same problem yesterday and still do today
On the Wellington PIF website, under "latest news" the item "15 October 2008 - Chairperson's address to general meeting" does not open on my system when I click on the link. Anyone else have the problem?
That's right John it was more than 75% of unit holders that I have to thank for listing the fund. I think you missed the point.
I had the same problem yesterday and still do today
John, the only argument you put forward to support your views seem to be that you are in the majority when it comes to resolution 1. So did you vote Yes for resolution 3 along with the other 88% of the fund?No Dora, I think you have missed the point. 94% voted for the resolution.
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............ and I really don't see what all the fuss is about with the NSX - if you don't like the price, then don't sell.
John, the only argument you put forward to support your views seem to be that you are in the majority when it comes to resolution 1. So did you vote Yes for resolution 3 along with the other 88% of the fund?
No Dora I voted "No" for resolution 3.
So what’s your advise to people who need to sell?
I accept that there are some people who sadly "parked" their money in PIF for the short term, and I feel for them. Most invested for income, and that is why I like most voted "Yes" for resolution one to avoid a liquidation which would have take many years and at best ended up with 14 cents a unit.
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John
Some facts from the Premium Income Fund Overview available on WC web site.
12 Month Term - 8,686 investments
9 Month Term - 1,510 investments
6 Month Term - 1,113 investments
At call 3 investments
24 Month Term - 3,124 investments
Who parked their money in the PIF for the long haul.
Please explain.
Regards
Splitpin
Thanks Splitpin,
I wrongly assumed that there would be far more on call.
Most then invested for income.
The 3 cents by Christmas will be the equivalent of 4+ months income at the old return. What will be produced next year, for the PIF and every other income fund out there! is in the "in the lap of the Gods". With no other concrete proposal, I, like 95% of unit holders, feel that Wellington offers the best chance currently available.
Cheers,
John H
Actually John,
It was 55.83% of total units in the Fund that lodged a definate Yes vote.
Thanks Splitpin,
I wrongly assumed that there would be far more on call.
Most then invested for income.
The 3 cents by Christmas will be the equivalent of 4+ months income at the old return. What will be produced next year, for the PIF and every other income fund out there! is in the "in the lap of the Gods". With no other concrete proposal, I, like 95% of unit holders, feel that Wellington offers the best chance currently available.
Cheers,
John H
John
Are you aware that 95% of investors are over the age of 65 ,how many of these people do you think will need money over the next few years
The great majority of these people invested in yearly accounts only ,because they fully expected they would have need of the capital in their senior years for some sort of emergency
Jenny Hutson has only now told investors the truth
What she has stated clearly is that you may get somebody to pay 45 cents back in 3 to 5 years not the total amount that you originally invested
And it is just as likely that you may not
Surely you can see what happens when you are listed on an a trading market
Yes their are buyers but only at bargain basement prices and it is going to stay that way for years to come
That is the way stock markets work
If it makes you feel better and you want to go on living in a fantasy world mate good luck
John
Please stick to the query.
Nobody invested in PIF for the long haul.
Regards
Splitpin
I accept that there are some people who sadly "parked" their money in PIF for the short term, and I feel for them. .
Well John i sincerly hope you are in good health and will never need money urgenly if you are ill
Just recently i seem to be suffering from every ailment under the sun
Now if you would like to know what PIFI plans are for the future i suggest you join as a member.
Unlike others we keep our members fully updated .
Any cases of hardship will be taken into account .
John, Are you able to explain why the RE of the PIF told unit holders that liquidation by March 31 2009 was the only alternative? What about these options which clearly would return more to unit holders than a liquidation over a few months:... that is why I like most voted "Yes" for resolution one to avoid a liquidation which would have take many years and at best ended up with 14 cents a unit.
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