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Wellington Capital PIF/Octaviar (MFS) PIF

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Re: Octaviar MFS Premium Income Fund PIF

Likewise, I'm saddened to hear your story. Please accept my best wishes for your future prosperity. And thank you very very much for that last posting. The information you gave is more enlightening than a hundred phone calls to WC and a thousand of my postings of speculation and query.

Some of those NSX transactions were going through very quickly and I was beginning to wonder if there were off market dealings going on. Perhaps even wash transactions. You've answered my questions.
 
Re: Octaviar MFS Premium Income Fund PIF

Actually, it was Camerons Stockbrokers in Sydney who bought my shares, in case anyone is interested.
 
Re: Octaviar MFS Premium Income Fund PIF

Hi Seamisty all, I keep dropping in to read if there is anything new going on with PIF...nothing exciting or uplifting lately...but one can only hope for a miricle or 2...
would anyone know anything about "Orchard" investment property trust?
do you think the will hit the wall like other funds?
they are just another wonderful investment my financial advisor put me in...
thanks all...
 
Re: Octaviar MFS Premium Income Fund PIF

Mary Lynch said:
I want to thank all of you who have been an enormous support to me over this year. Its been a terrible nightmare, and I feel a lot less stressed now, and that means a lot to me. I don't want to "wonder if" any more....I want control!

Seamisty, Breaker, Dora, Rocky (are you there?) and (even) Great Dame....and many more, you have all been an inspiration. Thanks so much....and all the very best of luck with the WCPIF.
Click to expand...

God bless ya Mary!

The way the economy is going, you may be getting more than the rest of us get later!

The PIF was just the tip of the financial crash iceburg.
 
Re: Octaviar MFS Premium Income Fund PIF

sugar3157 said:
Hi Seamisty all, I keep dropping in to read if there is anything new going on with PIF...nothing exciting or uplifting lately...but one can only hope for a miricle or 2...
would anyone know anything about "Orchard" investment property trust?
do you think the will hit the wall like other funds?
they are just another wonderful investment my financial advisor put me in...
thanks all...
Click to expand...
Never heard of this one Sugar and very little info out there in regard to it. Will send you some extra info in regard to PIF via personal message. Not much good news for investors in any context unfortunately. Seamisty
 
Re: Octaviar MFS Premium Income Fund PIF

seamisty said:
Never heard of this one Sugar and very little info out there in regard to it. Will send you some extra info in regard to PIF via personal message. Not much good news for investors in any context unfortunately. Seamisty
Click to expand...

Thanks for that info Seamisty....
can our units be taken off the NSX and be made back to just units ?
like the $1 unit shares we originally bought?
or are we stuck forever on the NSX?
regards
 
Re: Octaviar MFS Premium Income Fund PIF

sugar3157 said:
Thanks for that info Seamisty....
can our units be taken off the NSX and be made back to just units ?
like the $1 unit shares we originally bought?
or are we stuck forever on the NSX?
regards
Click to expand...
Sugar Hudson got the vote she wanted & its NSX for ever
Our unit price has dropped 835% from a Dollar So at a growth rate of 10% average a year it you would be able to sell & get a Dollar for your units in about 75 to 80 years A Dollar would be worthless by then (inflation) so really there is only one winner to all this mess & we all know who that is Enjoy your day / Dane //
 
Re: Octaviar MFS Premium Income Fund PIF

sugar3157 said:
Thanks for that info Seamisty....
can our units be taken off the NSX and be made back to just units ?
like the $1 unit shares we originally bought?
or are we stuck forever on the NSX?
regards
Click to expand...
Sugar Hudson got the vote she wanted & its NSX for ever
Our unit price has dropped 90% from a Dollar So at a growth rate of 10% average a year it you would be able to sell & get a Dollar for your units in about 75 to 80 years A Dollar would be worthless by then (inflation) so really there is only one winner to all this mess & we all know who that is Enjoy your day / Dane //
 
Re: Octaviar MFS Premium Income Fund PIF

Quote from Crikey.com under:
Dear Squatters,

What a difference two months can make in hard-nosed, informed assessment of the state of the domestic economy:

October 4-5, editorial:
"Risk of recession looks remote"


November 11:
"We're heading closer to recession"


November 15-16:
"The perfect storm has only just begun"


November 22-23:
"Dark clouds on investment horizon"

December 4:
"Recession looms large as growth drops close to zero"

Presumably that's why they call it the Financial "Review", because, you know, everything's always under consideration.
Not looking forward to the January editorial!
 
Re: Octaviar MFS Premium Income Fund PIF

sugar3157 said:
Hi Seamisty all, I keep dropping in to read if there is anything new going on with PIF...nothing exciting or uplifting lately...but one can only hope for a miricle or 2...
would anyone know anything about "Orchard" investment property trust?
do you think the will hit the wall like other funds?
they are just another wonderful investment my financial advisor put me in...
thanks all...
Click to expand...

Sugar,
Sorry this reply is late - I don't come here very often.
I am an investor in Orchard.
You should have received your Orchard Outlook for the last quarter. You will see that this 30 page document details the investment strategy for each of the funds under management together with brief financial statements, an assessment of the past and future trading conditions, fund overview, tenancy details, debt maturity profile, portfolio overview, position in relation to key debt covenants, additional information with respect to the funds LVR (Loan to Value ratio), performance to date , a table of identified risks and the corresponding management strategy and a reference to their website where regular news bulletins are posted.
You will have received similar documents - not quite so long but equally informative each quarter without fail.
Now compare those documents, the quality of information and the level of information with those that Wellington Capital have produced since they took over and you will see that your investment in Orchard is being managed by professionals.
You have more than enough information to judge for yourself whether or not your Orchard Investment is safe.

Mutchy
 
Re: Octaviar MFS Premium Income Fund PIF

Those of you who play in ASX will be happy to see the bounce starting from 21/11/08, banks are up nicely on the bottom.

Those of you who believe in the Seamisty/Hutson/husband/Scott combine have watched the PIF slip from $1.00 to $0.45 to $0.13 as at 05/12/2008.

I'm happy to place a small wager that my "bottom" investment in ANZ at $13.01 will outperform this group of silly hairdressers and wastrels attempts by June 30 2009.

NEVER a consider a woman when you can buy a dog.
 
Re: Octaviar MFS Premium Income Fund PIF

Just got off the phone from WC to get the latest BC Told an up date coming next Wednesday About a payment B4 Xmas I asked when X div day will be then Got the same answer as once before Whats an X div day ?? O boy nothing has changed When ever will they train there staff to answer simple questions / Dane ///
 
Re: Octaviar MFS Premium Income Fund PIF

I am one of the unlucky one's that have another investment gone bad. Would anybody on this forum have an investment with LKM Capital Limited or if not know anybody that has such an investment. I would like to contact any person in this predicament to compare notes. Olease contact me through this forum to arrange further contact.
 
Re: Octaviar MFS Premium Income Fund PIF

charles36 said:
I am one of the unlucky one's that have another investment gone bad. Would anybody on this forum have an investment with LKM Capital Limited or if not know anybody that has such an investment. I would like to contact any person in this predicament to compare notes. Olease contact me through this forum to arrange further contact.
Click to expand...

Hi Charles,

For the latest on LKM Capital, go here:

http://www.finda.com.au/story/2008/11/22/3-cents-forchristmas-three-cents-return-for-invest/

Unfortunately, not so good, but Merry Christmas any way!
:xmaswave
 
Re: Octaviar MFS Premium Income Fund PIF

Thanks 2 cents worth, It never rains but it poors. I have found out the hard way but bit late in life to fully recover.
 
Re: Octaviar MFS Premium Income Fund PIF

Well Charles that is a hell of a lot better than we can expect for the PIF on the NSX over the next 3 years.

At least they have a receiver that is obtaining the best possible value for the assets.



The report from receiver Ferrier Green Krejci Silvia has found the anticipated return for investors in LKM Capital is between 41 and 60 cents on the dollar, with future distributions expected to be made over a three-year time frame.

But even the lifeline of three cents in the dollar before Christmas may not be realised, due to an outstanding loan repayment.

“We have now developed a realisation strategy for each asset held by LKM and we are now in the process of realising LKM's assets,” receiver Andrew Cummins said.

The receiver claims the assets, which include a sub-division in Coffs Harbour and two commercial properties in Sawtell, will need to be sold individually to recoup the money invested by 1180 investors, and certain projects in the LKM loan book require more than $3 million to complete to ensure the assets realise their full value.
 
Re: Octaviar MFS Premium Income Fund PIF

I know it is not much of an improvement, but I see there were 3 sales yesterday. 2 at 12.5 and 1 @ 13 cents. At least it is moving in the right direction!!
 

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