|
SYDNEY: National Australia Bank’s wealth management business, MLC, today confirmed that 100% of the underlying investments in its MLC MasterKey Cash Management Trust and National Australia Trustees At Call Common Fund A1, are covered by the Government’s deposit and wholesale borrowing guarantees until 28 November 2008.
This is in line with the Government’s announcement on the weekend that the deposit and wholesale borrowing guarantees will be in place free of charge until 28 November 2008.
Both the MLC MasterKey Cash Management Trust and the Common Fund are AAAm rated by Standard & Poor’s, the highest rating available globally.
Investments in bank bills and term deposits through the MLC MasterKey Custom platform are also currently 100% covered by the guarantee. MLC confirmed that none of its funds had been frozen for redemptions and all were operating as normal.
CEO of MLC, Steve Tucker said, “these are uncertain times for investors and it is critical that Australians seek professional financial advice before changing their investment strategy to ensure they make the right decisions for their long term future.”
For further information:
Media
Stacey Mitchell
T: +61 (0)2 9966 3035
M: +61 (0) 400 305 446
Kristen Allen
T: +61 (0)2 9957 8580
M: +61 (0) 412 759 753
|
