Before we get to how much worse the global financial crisis of 2008 could get, what about the local market? The great cash freeze of 2008 is upon us. Today’s Australian papers tell how fund managers AXA, Perpetual, and Australian Unity have frozen redemptions from their mortgage funds. Uh oh. At least $4.1 billion in investor funds have been frozen overnight. It’s an effort to halt the migration of investors from non-guaranteed mortgage funds toward government guaranteed bank accounts.
October 24th, 2008 | Dan Denning | 8 comments | Continued
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