NZ Mortgage Income Trust

[herbert240]

Has anyone got a view on the above? I do not have an investment with them but my widowed 78 year old mother does. I am a bit nervous in view of what has been happening with other trusts.

[minimoke]

My advice to my elderly whanua 12 months ago was to get their money out of finance companies and I still hold that view. I can’t see much to recommend Trusts at this point – unless I was going to do a lot of work to check them out. For the effort and risk required a bank deposit looks a better option. It is quite apparent there is no reasonable level of governance required in this sector and until they do something to rebuild confidence I wouldn’t be keeping or putting money in.

[Soolaimon]

Roberto, My 87 yr old Widowed mother also has funds invested with NZ Mortgage Income Trust. I have faith in this investment, it is based in Otago for a start and it only lends on 1st mortgage and at last report up to 49% on valuation. Seems to me to be as solid as you could get these days and I don't assosiate them with finance companies. No faith in them I'm afraid I have had 3 of them go on me. None left in my case now!

[Halebop]

...it is based in Otago for a start...

:confused:

[Soolaimon]

:confused:

It is managed by Fund Managers Otago Ltd.

[herbert240]

Thanks for your input guys........Soolaimon, I am inclined to agree with you. I saw financial adviser today....he was fairly relaxed (as I guess you would expect?!) and said he had some of his own money invested and had no intention of withdrawing any time soon. He did say however the fund hinted a "freeze" may be in the wind.

[Halebop]

It is managed by Fund Managers Otago Ltd.

My point was not who but how or why this was a definitive positive?