Hi Fellow OPIF Investors,
Been watching this forum for a few weeks, and glad to see so many interested and passionate people.
Also been intrigued with how everybody is looking at the problem – to me, there is only one constant (i.e.. non variable), and that is
A$1 = A$1.
The Banks, Queensland Public Trustee, etc all want the same thing, and that is A$’s, with the number dependent on their transaction.
Our problem, until recently, is still somewhat of a mystery, and that is how many A$’s are we all talking about.
The most recent “official” Investor Update (March 2008) from OPIF says the following:-
Gross Assets A$869.4M (unaudited as at 31Mar08)
Loan issued to third party bank A$168.0M (as at 31Mar08)
We are also provided with % Fund Asset allocations of
Commercial Loans 43.1%
Asset Backed Investments 31.7%
Property Backed Managed Investment Schemes 15.6%
Fixed Interest Investments 7.8%
Cash 1.8%
Whereas the loan is definitely defined in A$’s, unless it is somewhere else, our only known is that we should have (7.8% + 1.8% = 9.6% of A$869.4M) roughly = A$83.46M in Cash or Fixed Interest (hopefully earning us all a good rate of return at ???% per annum).
What we don’t know (again someone may be able to help here) is:-
• What are the assets that make up the other $786M?
• When were these assets last valued?
• What are their valuations today?
• How much income/return etc is supposed to be coming from those assets?
I believe that, from this point forward, we should all be insisting that data is presented as A$’s, and get rid of all this marketing and PR spin associated with percentages etc.
If the banks and other lenders don’t want to be communicated to in % or asset values etc, I see no reason why the OPIF investors, who put in their hard-earned A$’s, should be treated any different.
Welcome feedback??