premium income fund , page-11

Know what you are going through Seamisty

The stress is definately affecting my wifes health and my own am glad we took a once in a lifetime holiday last year because i cant see us ever affording that again after this is over

Anyway i needed to go on a diet and this is certainly one way of getting the motivation

Even the cat is howling at the moment because we have switched him to kangaroo meat and dry feed


Recently telephoned and enquired why they had borrowed 184 million without informing investors in the published asset allocation for the fund

The client service officer stated that it was written in the PIF constitution that they were allowed a loan of up to 20% and all of the loan money was invested in the assets

I said thats fine but dont you think their is a failure of discloser on your part under the ASX listing guidelines that you had a margin loan of that size capable of bankrupting the fund before anybody invested
The published assets are not exactly truthfull if they hidden debt underneath them are they

Of course he would not not admit they have done anything deceptive or dishonest

The moral of the story is that these people can get away with murder under the current ASX ASIC regulations