Direct Share Purchasing Corporation (DSPC) has again contacted investors in Australian Unity Investments’ (AUI) mortgage funds with offers to purchase units at a significant discount to their value.
Mr David Bryant, head of AUI, said that in some cases, DSPC is offering as little as 29 cents for each $1.00 unit.
“We think it’s outrageous that someone would offer to buy units from investors – some of whom are elderly or don’t have financial advisers – at a fraction of their true worth, and we are urging those that do have an adviser to contact them before making any decisions.
“Both our mortgage funds have maintained a $1.00 unit price despite the events of the last few years. Compared with other investments, mortgage funds are one of the very few asset classes to achieve this outcome for investors during the global financial crisis, and DSPC’s offer of, in some instances, 29 cents per unit has absolutely no justification.
“Mortgage funds have a strong future and our funds continue to meet their aim of providing investors with regular income and capital stability. We believe that investors who don’t need immediate access to capital are unlikely to benefit from selling their units to DSPC,” Mr Bryant said.
He added that under AUI’s existing liquidity offers, those investors who have taken part have already received a significant proportion of their capital – in some cases, 100 percent – at $1.00 per unit and the liquidity available for those who have not yet been fully paid out continues to increase.
“Anyone with questions about their investment can call our investor services team for more information, and those who may qualify under the hardship provisions set by the Australian Securities and Investments Commission (ASIC) who have not yet been fully paid out should contact us for assistance rather than consider such inferior offers,” Mr Bryant said.
AUI’s investor services team can be contacted on 13 29 39.
29/11/2010
