funds looking to break agreements

Alot of rumours and articles flying around about the funds looking to break their managment agreements with BNB....

"B&B fund breaks free"

Babcock & Brown Communities, the listed retirement home owner and operator, is poised to become the first of Babcock & Brown’s listed specialist funds to bring its management in-house.

The final details of the move will not be released until tomorrow, but it will have significant implications not just for the Babcock & Brown stable, but also other listed funds operated by Macquarie Group, Challenger Financial Services and others.

Babcock & Brown Communities was poised to announce its earnings results and the conclusions of a strategic review today, but the announcements have been delayed for 24 hours as the final details are concluded.

If this happens it is going to be a disaster for BNB as a major part of its recurring and profitable revenue will vanish... ....lets see what happens..