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AXA has frozen three mortgage funds worth $225 million. The company has suspended withdrawals from its Mortgage Distribution Fund, Mortgage Investment Fund and AXA Investment Portfolio. Interest.co.nz managing director Bernard Hickey says it is due to uncertainty around the Government's deposit guarantee scheme, which does not cover managed funds. He says there is fear people will take everything out of mortgage funds and invest in guaranteed banks or finance companies.
View All NZ LatestCounties back on trackCounties-Manukau have got back to their winning ways in the ITM Cup with a 23-3 win over Tasman in the wet at Pukekohe. Read MoreFerns smash Aussies in second testThe Silver Ferns have wiped Australia off the court in the second netball test in Wellington, to level the Constellation Cup series at 1-1. Read MoreFerns smash Aussies in second testThe Silver Ferns have wiped Australia off the court in the second netball test in Wellington, to level the Constellation Cup series at 1-1. Read MoreToxic sea slugs foundPeople are being urged to look out for toxic sea slugs on beaches in the Auckland region, after one was found at Cornwallis Beach. Read More |
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> Toxic sea slugs found > Armed robbers in West Auckland > Radiographer and DHB talks breakdown > Financial advisors to be more accountable SPORT > Counties back on track > Ferns smash Aussies in second test WEATHER > Thursday's national highs... See All Today's Most Read Stories
> Re-jig for child support?
> Car crash fatality in Far North > Bolger says bigger! > SCF investors targeted > Dr Cullen proposes moving toward republic Read More News on Your Mobile
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