This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

Wellington Capital PIF/Octaviar (MFS) PIF

Jump to new
Re: Octaviar MFS Premium Income Fund PIF



Danger

OK, enough of the BS, let us go forward together to fix our fund, unless you want to argue forever about nothing that matters.

Let us set the step by step to do it on this forum.

Is that acceptable.

Regards


Splitpin
 
Re: Octaviar MFS Premium Income Fund PIF

BEX POWDER !!!

Do you know the nickname for bex powders?

"Newcastle disease"!

Why, because every man and his dog use to take them down here for anything and everything, including with a cuppa. And there was an epidemic of kidney disease and intestinal problems.

When I was a little kid the lady across the road, my best friends mum, literally had half her stomach cut out because of taking BEX every day!

Danger, SPLITPIN is NOT trying to relax you he wants to BUMP YOU OFF!! LOL HEh HEh!
 
Re: Octaviar MFS Premium Income Fund PIF

I can still hear some of the people leaving the meeting in July saying to each other Jenny is nice she will help us we will et our money back soon I will bet any one my house they are not saying it today / Dane ///
 
Re: Octaviar MFS Premium Income Fund PIF

Duped was right. It’s been confirmed that WC were excluding the 3 'at call' investments in the PIF on the listing application. This represented the units held by the Wholesale PIF. Any ideas why you would plan to exclude these units from the NSX listing? Note this didn’t end up happening and ALL units were listed in the end.

It’s interesting to read the following section of the Listing Application which to me reads like the RE is telling the NSX they are listing all units of the fund which wasn't the plan at the time:
2 (vii) an outline of the principal terms of the securities the applicant wishes to list
"The securities in respect of which listing is sought are all ordinary units and together comprise the whole of the issued unit capital."

The link to the Listing Application was removed from the NSX announcements the day after some enquiries were made but you can still take a look at it here if you are quick. http://www.nsxa.com.au/ftp/news/021720762.PDF
 
Re: Octaviar MFS Premium Income Fund PIF



DEAR RANCE,
My heartfelt Happy Birhday to you!!!
You'll stick around this mob, that is us, for a damn long time yet because you just love it.
I will enjoin your depressive contribution with my version of english approximation of "Volga Boatmen":

Volga boatmen
Volga boatmen
Sweat your lives
On a river bank

Once in your youth
You were strong and sprite
Now you can barely
Lift your gaze off the ground
Heave on the ropes, men
Don’t spare the blisters
Your hearts and souls
Have long been lost in steppes
 
Re: Octaviar MFS Premium Income Fund PIF

There's any number of sites that can be googled for company Crisis Management advice. One rule I read about is relevant to WC's present problems with the failed October distribution: "Remember, it may not be your fault, but it is your responsibility."
 
Re: Octaviar MFS Premium Income Fund PIF

look guys - i haven't posted in a long time and i'm afraid you have all been conned - if you remember i have worked in the financial services area for over 25 years in senior executive positions - this market correction has fundamentally changed the way risk will be assessed and the cost of money will become more expensive - there is less of it availiable to lend so it becomes a more highly sought after commodity - banks will lend money to people who are buying their home to live in who can afford it and can afford to put up 20% deposit. Property Development companies are going to go the way of the dinosaurs and JH is kidding herself if she thinks she is going to get anywhere near your dollar per unit back - an ordely wind up of the fund was the best option - you could be realising assets now whilst your able to - the property market historically corrects 12 - 18 months after the share market corrects - remember the share market is a leading indicator of whats coming - once people start losing their jobs - thats when the property market corrects - JH did a great snow job on you all and who is the only one laughing all the way to the bank - she is covering her costs out of your money - she may not be getting a fee just yet - but shes having her salary paid and that of her staff by the money you have left in there. Good luck to her she played the pschological game well greed and fear won over common sense - if shes given 5 years - you will be lucky to get 5c back.
 
Re: Octaviar MFS Premium Income Fund PIF

Ahhhh these so called financial experts, 25 years on and they are as accurate in their predictions as the weather bureau, and equally as accountable too!
 
Re: Octaviar MFS Premium Income Fund PIF


........... surely that's what PIF is all about!!
 
Re: Octaviar MFS Premium Income Fund PIF

i'm afraid you have all been conned - if you remember i have worked in the financial services area for over 25 years in senior executive positions - :::lease don't lose sight of the fact that it was so called experts in these positions who directed many investors Or 'conned' them, into investing in the PIF and other similar schemes for substantial fees in the first place. I hope you were not one of them deano, because thay are even less popular than JH at the moment. Seamisty
 
Re: Octaviar MFS Premium Income Fund PIF

Thanks Deano for some commonsense analysis

I think it should now be manifestly obvious to everybody except a Neanderthal who has had two Frontol Lobotomies that our fund is in a very dire position

Duped who I am pretty sure has some very sound Financial credentials in the industry has calculated the current listed value at 15cents based on the recent financial statements.

Many years ago a friend of mine in the job I was in got a shotgun a rope and a high chair when it all got to much ,perhaps I should also add in a Bex powder just to be on the safe side.
 
Re: Octaviar MFS Premium Income Fund PIF

Just done a bit of research that some of the true believers wont like Cant find any fund that is in the mess that our fund is in in the last 80 years ( 55% down ) has ever recovered to the value it once enjoyed You know folks getting something will alway beats getting nothing /////
 
Re: Octaviar MFS Premium Income Fund PIF


PRAISE HEAVEN FOR THE NSX DANE, PRAISE HEAVEN !! LOL...LOL...LOL!
 
Re: Octaviar MFS Premium Income Fund PIF

Could someone please explain what exactly the background to the delayed $29 million is about - a sort of Guide for Dummies approach would greatly assist any who can't quite follow the reasons for this latest mess. I'm assuming that a group owes PIF money, hasn't any and can't find a source to borrow to pay us back.
 
Re: Octaviar MFS Premium Income Fund PIF

Selciper I can only tell you what I was told myself from WC. There were 3 planned settlements with all the paperwork in place before the 28th of OCT which all fell through just prior due to the worsening credit market conditions. The projects involved tried every possible avenue for re financing but failed to secure it. WC are continuing to work with the related parties. I have since spoken to 4other people who had done preliminary work with banks etc. for business and home loans and felt confident that once their final paperwork was submitted, they would qualify. They were ALL knocked back for various reasons. One was a mine worker earning good money but he was told he would need a bigger deposit and a renewed employment contract due to uncertainty in the mining industry. These are scary times. Seamisty
 
Re: Octaviar MFS Premium Income Fund PIF

deano1 said:
look guys - - if shes given 5 years - you will be lucky to get 5c back.
Click to expand...


Other threads discuss "capitulation" basically where everyone just throws in the towel and gives up taking a loss. I am very wary of your comments Deano because I honestly believe that nothing would be easier for our RE if everyone just threw in the towel and took 15 c on NSX. Wow what a windfall to have all those pesky unitholders eliminated for peanuts and without ever having to give a "capital distribution". I would love to know the origins and game plan of the bidders offering to buy on NSX.

Note to self, remember parents rule # 10.
Don't trust real estate agents and lawyers. I have added financial advisors to my list.
 
Re: Octaviar MFS Premium Income Fund PIF

Can some body out there who knows something tell us investors this If WC cant pay a div in Dec Can WC put the fund into a con trolled wind down if they wish Like the old MFS managers wanted to do Before WC took over /////////
 
Re: Octaviar MFS Premium Income Fund PIF

Or women in red coats preching on the stage sying I WILL SAVE YOU //////////
 
Re: Octaviar MFS Premium Income Fund PIF

Communique

Yes Communique their are quite a few Financial advisors masquerading as hard done by unit holders on this thread , we know exactly who they are ,however i can assure you Deano is not one of them.

You will find that some are the people who most stridently supported JH in order to get their wretched commission or should i say 30 pieces of silver .
 
Re: Octaviar MFS Premium Income Fund PIF

Just listening to the 5 o'clock news - Wayne Swan was being pressured into giving investors in funds greater access to their frozen monies. Something like access to $20,000 or half their investment over 1 year, but I might have got that wrong.

Interest level raised, then another pollie comes on and says that it would have to be only if investors could prove hardship!! That's the case already - and its near impossible! Playing us like fools! Unless the hardship criteria are going to be set by the government and relaxed.

Any government interventions might not apply to our fund backdated anyway, as the PIF problems did not originate due to the bank guarantee. Neither does JH have the liquidity to pay such monies if hardship criteria get greatly relaxed at some future date.

If it does happen, it will just mean that those investors will take out whatever they can and put it in the banks. What a great banking scam! Give only the banks the guarantee and then they get all the money from their competition - then no competition! Accordingly, the funds will fail for the people who want to remain. Swan is an idiot unless he puts this guarantee across the board with heavy guarantee limitations.

I am tempted to say this is all part of the plan and there not idiots!

But the good thing about all this, is, that we are not a lone fund crying out in the wilderness anymore!
 
You must log in or register to reply here.

Similar threads

MA1 - MA Credit Income Trust
Replies
3
Views
473
Dona Ferentes
DGT - DigiCo Infrastructure REIT
Replies
8
Views
986
Dona Ferentes
Coolabah Capital
Replies
5
Views
1K
divs4ever
VBTC - VanEck Bitcoin ETF
2 3
Replies
40
Views
4K
Garpal Gumnut
November 2024 DDD
2 3
Replies
53
Views
5K
ducati916
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...