1 Feb 2013

HMF investors to begin receiving payments

3:37 pm on 1 February 2013

The statutory manager for Hubbard Management Funds says some investors will start receiving partial payments in February.

The development comes after no appeal was lodged against a High Court-imposed formula for distributing the funds.

In a statement on Friday the statutory manager said that in the coming weeks, investors will be advised of the date and level of the first repayment from the capital return pool.

The statement said approximately 70 investors are unlikely to be entitled to any further payments because interim money they received in March 2012 exceeded their entitlement.