stella breaching loan .. rolf is out of town., page-19

R100. "Frankly the plan of having PE being PIF extend loans to developers, also part of MFS,who then added their projects into a growing chain of Holiday let appartments sounds a good idea.imo"

So do I, provided of course the projects meet the criteria set forth in the PDS. From page 19 "How do we manage conflicts of interest and related party transactions" of the PDS (2/7/07) "these will need to meet the same investment criteria as any other proposed asset in the fund". So can anyone tell me how the $147m in securities PIF invested in somewhere in the MFS group of companies qualified?

"MFSIM has a best practice approach to the assessment of Fund assets" - from now on I'll give this sort of text ZERO weight.