TPT mortgage funds hit by ratings withdrawal
In a move with echoes of the situation surrounding mortgage funds during the global financial crisis (GFC), research and ratings house SQM Research has withdrawn the ratings of three mortgage funds managed by TPT Wealth.
SQM has confirmed its action to withdraw the ratings of the three funds due to inadequate disclosure of fund information.
The three funds affected by the withdrawal are the TPT Fixed Term, TPT Long Term and TPT Select Mortgage.
SQM Research said the rating action followed the failure of the manager to provide adequately detailed fund information, as required, despite multiple requests fro, the ratings house.
It said that the ratings status of the funds is now “withdrawn” meaning that a rating no longer applies because significant issues have arisen since the last report date meaning investors should consider avoiding or redeeming units in the fund.
Dixon MIS fiasco was back dated into CSLR as there were many Canberra bureaucrats caught. Nothing like self interest to…
Looks like there are some cultural issues within Treasury if they want to play smoke and mirrors. Probably explains the…
Funny that. Where's all the class action litigation vultures? I thought they cared about equity.
Scrap it
If this does happen it will represent the biggest case of intergenerational theft ever. Older/pension members getting their balances artificially…