30 Mar: Ausbil Australian Emerging Leaders Fund update
Since our update on 24 December 2014, we advise that whilst the matter continues to progress, Ausbil Investment Management Limited (Ausbil) have recently advised they are still determining the timing, the amount and also the taxation characteristics of the compensation to be paid in relation to their unintentional overcharge of their investment fee.
We continue to work closely with Ausbil to determine the most appropriate method of compensation for impacted clients.
MLC will keep you informed of any progress and will provide a further update by 30 June 2015. Impacted advisers and clients will be notified once compensation has been determined.