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Update from the Chairman of FMC - 12 Apr 2013

 

 

The Fund is now in the process of closing off another year, as this process progresses the PIE tax certificates and Financial Statements will be released.  The Certificates will come out before the end of April, with the Manager and Trustee approving the allocation of earnings to unitholders’ accounts, approximating 13.9 cents per unit held at 31 March 2013. The Financial Statements will be released as soon as the audit process is complete.


The question that everyone asks is when the next capital repayment will be made?  Unfortunately, the small profit above does not translate into sufficient cash reserves for a pay out, at present we hold 70% of the funds required to make the next distribution.  Our recovery specialist is working towards and in particular negotiating behind the scenes, to progress the realisation of the current loans. The value of investor’s balances, as at suspension, repaid to date is 83%.


As in past releases we reiterate that due to the earthquakes many Investors have been on the move and if you have moved recently would you please advise us in writing (one of the post office moving cards is fine or a short letter), to enable us to keep in contact with you.  The same goes for bank accounts that have been closed. 

 

 

 

 

 

Canterbury Mortgage Trust Group Investment Fund, office of the Manager Canterbury Fund Managers Ltd

Unit 6a, 212 Antigua St, Christchurch 8011 • PO Box 13-229, Christchurch 8141
Phone 03 377 5201 • team@cmt.co.nz