MLC confirms no freezes on its investment funds

Friday, 24 October 2008

SYDNEY: National Australia Bank’s wealth management business, MLC, today confirmed that none of its funds had been frozen for redemptions and all were operating as normal.

Ahmed Fahour, Executive Director and CEO, Australia said “NAB’s wealth management business, MLC, is performing well in a very difficult environment and customers should have comfort that their investments are both safe and being managed prudently.”

MLC does not have a mortgage trust.

Steve Tucker, CEO of MLC, said “MLC has been a successful Australian business for more than 120 years. Our customers should have confidence that their investments are well diversified and are being carefully managed in these turbulent times.”

“MLC’s MasterKey Cash Management Trust has maintained a AAAm rating issued by Standard & Poor’s for well over a decade. This is the highest rating available globally.”

“If investors have concerns, we recommend they speak with a professional financial planner before taking any action.”

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