Wellington Capital PIF/Octaviar (MFS) PIF
- Thread starter breaker1
- Start date
Thanks Simgrund for all of your efforts.
Thanks Simgrund, very much appreciate your hard work!!!
http://www.nsxa.com.au/ftp/news/021724676.PDF - well there we are, JH can now draw her .7%!!!
- Joined
- 6 June 2008
- Posts
- 427
- Reactions
- 0
Hutson milks small change from fund
Scott Rochfort
December 1, 2011 CBD SMH
Ka-ching! The Queensland businesswoman best-known for her trademark red leather jacket, Wellington Capital's Jenny Hutson, finally looks set to milk some management fees from the carcass of the MFS-founded Premium Income Fund she wrestled control of nearly four years ago.
The Premium Income Fund yesterday announced it would pay its long-suffering unit holders a 1 ¢ distribution on December 12.
This would take the payments to a whopping 3 ¢ (for each originally-valued $1 unit), making Hutson's outfit now eligible to collect an annual management fee valued at 0.7 per cent of the fund's gross assets.
But Hutson, a trusted ally of the entrepreneur Chris Scott who was badly burnt by the collapse of MFS, is yet to say what the management fee will be.
No word yet if the fee will be based on the $233 million of gross asset valuation in the fund's full-year accounts that its recently resigned auditor PricewaterhouseCoopers refused to sign-off on
Read more: http://www.brisbanetimes.com.au/bus...e-from-fund-20111130-1o6zz.html#ixzz1fDqzBX4v
Scott Rochfort
December 1, 2011 CBD SMH
Ka-ching! The Queensland businesswoman best-known for her trademark red leather jacket, Wellington Capital's Jenny Hutson, finally looks set to milk some management fees from the carcass of the MFS-founded Premium Income Fund she wrestled control of nearly four years ago.
The Premium Income Fund yesterday announced it would pay its long-suffering unit holders a 1 ¢ distribution on December 12.
This would take the payments to a whopping 3 ¢ (for each originally-valued $1 unit), making Hutson's outfit now eligible to collect an annual management fee valued at 0.7 per cent of the fund's gross assets.
But Hutson, a trusted ally of the entrepreneur Chris Scott who was badly burnt by the collapse of MFS, is yet to say what the management fee will be.
No word yet if the fee will be based on the $233 million of gross asset valuation in the fund's full-year accounts that its recently resigned auditor PricewaterhouseCoopers refused to sign-off on
Read more: http://www.brisbanetimes.com.au/bus...e-from-fund-20111130-1o6zz.html#ixzz1fDqzBX4v
- Joined
- 12 July 2008
- Posts
- 416
- Reactions
- 0
From the same CBD potpouri; do these girls socialise?
YOU GO, GIRL
You can't please all of the people all of the time, but you can go mighty close, as Gloucester Coal proved yesterday with the election of its first female director, Julie Beeby, the boss of WestSide Corp, a coal seam outfit in Queensland. The proxy vote in her favour was 99.95 per cent.
''I have never seen a director elected with a vote of 99.95 per cent,'' the chairman, James MacKenzie, told the small annual meeting gathering yesterday.
The meeting was attended by MacKenzie's public image consultant and Sydney's ''go-to'' disaster media handler, Sue Cato, who, CBD understands, just might be about to weigh in to the BlueScope Steel disaster, where directors have torched hundreds of millions of dollars in shareholders' wealth over the past few weeks with both the shares and rights hitting new lows yesterday.
Read more: http://www.smh.com.au/business/hutson-milks-small-change-from-fund-20111130-1o6zz.html#ixzz1fEJhHgm4
I wonder if the .05% prove to be right? If you think back, that was probably the percentage of people against Wellington at the road shows. Sadly I was not one of them.
- Joined
- 6 June 2008
- Posts
- 427
- Reactions
- 0
http://www.nsxa.com.au/ftp/news/021724676.PDF - well there we are, JH can now draw her .7%!!!
And her mongrel mate with 10%+ of PIF shares illegally bought at our expense will get $800,000+ of our money!!!
- Joined
- 12 July 2008
- Posts
- 416
- Reactions
- 0
The most unkind cut of all.
The original PIFers subsidising Jenny's piggery.
2 more years of this molestation?!?!!?
Regards,
Would someone please enlighten my untaught mind on how the 1 cent payment forecast for the 12December, 2011 will effect the fee which will become due and payable to Wellington Capital. I know that it will not come from profit or income because there has not been any of either but what concerns me is the fee is payable as a percentage from the last audited figure of the PIF? Given that PWC refused to sign off on the valuation of the fund in their last audit up to June, 2011 that leaves the last official audit as being June 2010. If this is the case the fee for Wellington will be higher than what would have been expected for 2011. I would be grateful for an explanation.
- Joined
- 6 June 2008
- Posts
- 427
- Reactions
- 0
Yes Charles this is exactly what JH would like to do - except that the issue of the unsigned accounts and PWC's inability to gain any insight into the basis of the recent valuations is why ASIC is currently looking at this. The bigger issue for ASIC is the the basis for RE remuneration and that covers a variety of funds and mechanisms. Clearly, unsupported Directors valuations as a basis for remuneration is susceptible to fraud.
JH has done nothing at arms length, her mongrel mate is more like her partner in crime.
She got the PIF for free and she has been using our hard earned money to insure that she keeps her snout in the trough.
- Joined
- 6 December 2009
- Posts
- 64
- Reactions
- 0
Has ASIC got any powers to step in and stop such a payment when there are clearly so many breaches of acts? Surely something can be done to freeze such actions while further investigations take place????
- Joined
- 6 June 2008
- Posts
- 427
- Reactions
- 0
ASIC has all the powers to not only prevent the payment but cancel the shares illegally allotted by WC - lets see if they exercise those powers!
This audio comes out of the USA. Gerald Celente is an idiosyncratic economics forecaster. His excitable style takes getting used to, but his forecasts over the past four yeas have been impressive (if gloomy). And even he has recently lost money.
http://www.informationclearinghouse.info/article29858.htm
http://www.informationclearinghouse.info/article29858.htm
half a cent per unit!!! http://www.nsxa.com.au/ftp/news/021724685.PDF
Wonder how many more there are out there like that?
- Joined
- 12 July 2008
- Posts
- 416
- Reactions
- 0
WC fails to inform unitholders of the originating values of investments made.
The final figures in most cases are carcases of the once decent market reflections.
Such as Helidon Sandstone Mine.
Please WC, inform us fully through your NSX releases.
Do not fear transparency; this will in no way increase our gratitude from levels of today.
Regards,
- Joined
- 12 July 2008
- Posts
- 416
- Reactions
- 0
What's with Gold Coast's Fraud Production Line:
DISCLAIMER: There are good people in GC, census has been commissioned
DISCLAIMER: There are good people in GC, census has been commissioned
I think this return was almost certainly from an investment made in Maquarie Fortress Warrants who invested in U.S company Bonds
Maquarie recently sold the portfolio for 45cents in the dollar ,wound up the Fund .and returned the balance to investors
The return of monies had absolutely mothing to do with any proactive effort by WC as inferred on the NSX
