Financial services group Australian Unity Investments (AUI) has made another change to its redemption policy, increasing yet again the withdrawal levels for its mortgage funds.
Investors will now be able to withdraw 3 per cent from the Mortgage Income Trust each month.
AUI recognised investors needed to access capital in its mortgage funds, AUI general manager Mark Pratt said.
"One of our main aims with the mortgage funds over the last two years has been to increase redemption offers for investors whenever possible," Pratt said.
The latest change to its redemption policy meant investors with an average balance of $45,000 in the trust in October 2008 would be able to receive their capital by October if they had applied for the maximum amount under each offer, he said.
The last redemption change to the trust was in October 2009 when the firm allowed investors to withdraw up to 2 per cent of their total investment in the trust or a maximum of $2000 every month.
"In addition, investors will have received returns of 4.29 per cent per annum over the last two years," Pratt said.
