AXA move lifts frozen funds tally over $1b

Ah, the sweet smell of blackmail. Give us money or your money is gone. AXA no doubt has its veults full with Mortgage backed assets and feels an imminent collapse coming on. In fear of a “Bank run” they have closed up shop and sod the punters. More than $1 billion has been frozen in […]

Axa’s suspension impacts Westpac portfolio

The fallout from Axa New Zealand’s freezing of one of its property-related funds has spread to a partial freeze of a specialist product run by Westpac New Zealand. Westpac New Zealand yesterday said a portion of its “Capital Stable Portfolio” had been suspended from withdrawal, because it was based on investments in funds including Axa’s […]