FDY010: Close out of Fund

The unexpected rally in the US bond market last night resulted in further trading losses. Despite the best efforts of our Fund Manager, the value of the Fund has now fallen below the bond floor.

All funds will now be transferred to the fixed portfolio assets and trading of new options has ceased. No further coupons will be paid.

This action is taken in accordance with the terms of the trust deed and as set out in the investment statement. The trust documentation is available at: www.fidelitybonds.co.nz

The repayment of the principal is guaranteed by Westpac Banking Corporation. All bondholders will get their capital back on 15th July 2013.

Source: NZX

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