MLC confirms Government guarantee on funds
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.”
AUTHOR
Benjamin Levy
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