Not news for me, you said it earlier in the thread.
The fact that you can see it on your statement does NOT alter the fact that you don't own the shares. Allocation of $ to each member is not rocket science, IOOF are up to the task. IOOF will get the full value of the franking credits and pass on to their customers. You won't lose a single cent contrary to your opinions.
Unless of course the PBO don't know what they are doing.
All imo
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