MLC confirms Government guarantee on funds

term-deposits/federal-government/chief-executive/government/

29 October 2008
| By Benjamin Levy |

MLC has confirmed that its underlying investments in the MLC MasterKey Cash Management Trust and National Australia Trustees At Call Common Fund A1 are covered by the Federal Government’s deposit and wholesale borrowing guarantee.

Both funds are rated AAA + by Standard and Poor’s.

The Government guarantee will be in place until November 28. It is free of charge.

Investments in bank bills and term deposits through the MLC MasterKey Custom platform are currently covered by the guarantee. None of MLC’s funds have been frozen for redemptions.

The chief executive 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.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 4 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

5 months ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

2 weeks ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 5 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND