Hi Jenny, remember this>>>
Fees payable for 2 years only
NSX Release: 30 March 2011
An amendment has been made to Clause 23 of the Fund’s Constitution which deals with the remuneration of
the responsible entity of the Fund. The amendment provides that
once cash payments of 3 cents per unit
have been paid to Unitholders, the responsible entity will only be able to charge its funds management
fee for a period of 2 years.
Managing Director, Jenny Hutson said,
‘This means funds management fees will only be paid for a total of
2 years. This change to the Constitution ensures that there is alignment between the responsible entity’s
remuneration and the prompt return of money to Unitholders of the Fund.’
A copy of the Deed Poll amending the Constitution of the Fund, together with the Constitution is available
on Wellington’s website
www.wellcap.com.au in the Investors section. A copy will be made available by
post on request.
SOOOOOO Jenny, how much has been paid to FTI consulting, ARL, Castlereagh Capital, Wellington Capital ltd, Perpetual? and anyone else in fees remotely connected to management, legal fees, advertising, court costs, media, registry services? anything at all really which relates to this gross loss to PIF investors as a direct outcome of a possible reckless decision to dump the PIF??? I personally am thinking you owe me big time for the financial loss I have suffered because of the decisions/pledges made by Wellington Capital ltd relating to the PIF which not only did not eventuate, they were further compromised by the fund being offloaded.
http://www.nsxa.com.au/ftp/news/021723841.PDF
NSX Release: 30 March 2011
Fees payable for 2 years only
An amendment has been made to Clause 23 of the Fund’s Constitution which deals with the remuneration of
the responsible entity of the Fund. The amendment provides that
once cash payments of 3 cents per unit
have been paid to Unitholders, the responsible entity will only be able to charge its funds management
fee for a period of 2 years.
Managing Director, Jenny Hutson said,
‘This means funds management fees will only be paid for a total of
2 years. This change to the Constitution ensures that there is alignment between the responsible entity’s
remuneration and the prompt return of money to Unitholders of the Fund.’
A copy of the Deed Poll amending the Constitution of the Fund, together with the Constitution is available
on Wellington’s website
www.wellcap.com.au in the Investors section. A copy will be made available by
post on request.
SOOO Jenny, I am thinking that any costs relating to the management of the PIF after 30 March 2013, and I mean ALL COSTS RELATING TO MANAGEMENT OF THE WELLINGTON CAPITAL LTD PREMIUM INCOME FUND now remain your responsibility and should be reimbursed to PIF unit holders or have I got this wrong??? HO HUM, here we go again, seek your own legal advice, what's another five years or so to try and get justice?
