Have just got in the mail an MBA flyer with, but separate from,...

Have just got in the mail an MBA flyer with, but separate from, the Quarterly Investment Report of a fund they manage. Interesting representations:

"At Maple-Brown Abbott, we have always valued dividends. Reflecting our views on the importance of dividends in all market conditions, we seek higher levels of fully franked dividends than the market"

It seems they are being true to their philosophy given the dividend situation of PPX (exacerbated now by the non-payment to PXUPA).

"Although our value-based investment philosophy has remained unchanged for over 25 years, we regularly update our investment process to reflect ongoing changes in market structure, technological advances and new investment techniques."

They are certainly updating their investment process with respect to PPX.

"Long-term investing is an important aspect of our philosophy, as we often find the best opportunities are only available to those willing to take a long-term view."

They waited, and waited, and have seemingly now made a decision. Should everyone else?